Align Technology, Inc. (NASDAQ:ALGN) Shares Acquired by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC lifted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,654 shares of the medical equipment provider’s stock after acquiring an additional 53 shares during the quarter. Linden Thomas Advisory Services LLC’s holdings in Align Technology were worth $453,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp increased its stake in shares of Align Technology by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 1,228,875 shares of the medical equipment provider’s stock valued at $375,200,000 after acquiring an additional 29,497 shares during the period. Morgan Stanley grew its position in Align Technology by 9.8% in the third quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock worth $310,866,000 after buying an additional 90,581 shares during the last quarter. Rhenman & Partners Asset Management AB acquired a new position in Align Technology in the third quarter worth approximately $305,000. Invesco Ltd. grew its position in Align Technology by 15.4% in the third quarter. Invesco Ltd. now owns 960,271 shares of the medical equipment provider’s stock worth $293,190,000 after buying an additional 128,273 shares during the last quarter. Finally, Northern Trust Corp grew its position in Align Technology by 2.7% in the third quarter. Northern Trust Corp now owns 831,469 shares of the medical equipment provider’s stock worth $253,864,000 after buying an additional 21,490 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Buying and Selling

In related news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the transaction, the director now owns 131,994 shares in the company, valued at approximately $40,023,220.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the transaction, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock worth $8,403,924 in the last quarter. 0.64% of the stock is currently owned by company insiders.

Align Technology Trading Down 1.0 %

ALGN stock opened at $310.50 on Friday. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $413.20. The company has a fifty day simple moving average of $313.38 and a 200 day simple moving average of $270.80. The firm has a market cap of $23.37 billion, a PE ratio of 51.15, a PEG ratio of 5.62 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.13. The business had revenue of $956.73 million during the quarter, compared to analyst estimates of $928.57 million. Align Technology had a net margin of 11.80% and a return on equity of 14.22%. As a group, analysts forecast that Align Technology, Inc. will post 7.69 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. UBS Group lifted their price target on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Leerink Partnrs restated a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. SVB Leerink started coverage on shares of Align Technology in a research note on Monday, February 26th. They issued a “market perform” rating and a $310.00 price objective for the company. Robert W. Baird raised their price objective on shares of Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, The Goldman Sachs Group raised their price objective on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Align Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $341.36.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.