Visionary Asset Management Inc. bought a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 1,219 shares of the medical equipment provider’s stock, valued at approximately $227,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Buckingham Asset Management LLC lifted its holdings in shares of Align Technology by 3.3% during the 2nd quarter. Buckingham Asset Management LLC now owns 1,861 shares of the medical equipment provider’s stock worth $279,000 after acquiring an additional 59 shares during the period. BB&T Securities LLC lifted its holdings in shares of Align Technology by 3.5% during the 2nd quarter. BB&T Securities LLC now owns 2,757 shares of the medical equipment provider’s stock worth $413,000 after acquiring an additional 94 shares during the period. Wesbanco Bank Inc. lifted its holdings in shares of Align Technology by 0.9% during the 2nd quarter. Wesbanco Bank Inc. now owns 11,054 shares of the medical equipment provider’s stock worth $1,659,000 after acquiring an additional 100 shares during the period. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of Align Technology by 13.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock worth $137,000 after acquiring an additional 105 shares during the period. Finally, Commonwealth Bank of Australia lifted its holdings in shares of Align Technology by 10.5% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,129 shares of the medical equipment provider’s stock worth $169,000 after acquiring an additional 107 shares during the period. Institutional investors own 84.04% of the company’s stock.

Shares of Align Technology, Inc. (NASDAQ ALGN) opened at $233.55 on Friday. The stock has a market cap of $18,892.27, a P/E ratio of 69.71, a P/E/G ratio of 2.25 and a beta of 1.43. Align Technology, Inc. has a 1 year low of $88.56 and a 1 year high of $266.41.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.19. The firm had revenue of $385.30 million during the quarter, compared to the consensus estimate of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The company’s revenue was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.63 EPS. research analysts anticipate that Align Technology, Inc. will post 3.62 earnings per share for the current year.

In other Align Technology news, Director Joseph Lacob sold 29,724 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $260.91, for a total value of $7,755,288.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Emory Wright sold 5,025 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $263.68, for a total transaction of $1,324,992.00. Following the completion of the sale, the vice president now directly owns 80,762 shares of the company’s stock, valued at approximately $21,295,324.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 52,849 shares of company stock valued at $13,494,348. Corporate insiders own 1.60% of the company’s stock.

Several brokerages have recently weighed in on ALGN. Stifel Nicolaus reiterated a “buy” rating and set a $225.00 price objective (up from $205.00) on shares of Align Technology in a report on Thursday, October 19th. Robert W. Baird reiterated a “buy” rating and set a $290.00 price objective on shares of Align Technology in a report on Wednesday, November 29th. Morgan Stanley increased their price objective on shares of Align Technology from $257.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, November 27th. Northcoast Research reiterated a “buy” rating and set a $230.00 price objective (up from $200.00) on shares of Align Technology in a report on Tuesday, October 10th. Finally, Credit Suisse Group reissued a “positive” rating and set a $261.00 target price (up previously from $209.00) on shares of Align Technology in a research report on Thursday, November 9th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Align Technology presently has an average rating of “Buy” and a consensus target price of $236.75.

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About Align Technology

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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