Carroll Financial Associates Inc. boosted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 14.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,550 shares of the medical equipment provider’s stock after buying an additional 190 shares during the period. Carroll Financial Associates Inc.’s holdings in Align Technology were worth $177,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in ALGN. Proficio Capital Partners LLC raised its stake in shares of Align Technology by 369.0% in the third quarter. Proficio Capital Partners LLC now owns 1,271 shares of the medical equipment provider’s stock valued at $119,000 after buying an additional 1,000 shares in the last quarter. Pacad Investment Ltd. bought a new position in Align Technology during the fourth quarter valued at $183,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Align Technology by 14.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,179 shares of the medical equipment provider’s stock valued at $204,000 after buying an additional 281 shares during the period. Radnor Capital Management LLC bought a new position in Align Technology during the fourth quarter valued at $219,000. Finally, Private Advisor Group LLC bought a new position in Align Technology during the fourth quarter valued at $234,000. Institutional investors and hedge funds own 85.82% of the company’s stock.
Align Technology, Inc. (NASDAQ:ALGN) opened at 120.09 on Friday. The stock has a 50 day moving average price of $114.05 and a 200-day moving average price of $99.74. The company has a market capitalization of $9.64 billion, a price-to-earnings ratio of 51.54 and a beta of 1.40. Align Technology, Inc. has a 1-year low of $70.03 and a 1-year high of $121.79.
Align Technology (NASDAQ:ALGN) last released its earnings results on Tuesday, January 31st. The medical equipment provider reported $0.59 earnings per share for the quarter, missing the consensus estimate of $0.66 by $0.07. Align Technology had a return on equity of 20.82% and a net margin of 17.57%. The business had revenue of $293.20 million for the quarter, compared to the consensus estimate of $292.75 million. During the same quarter in the previous year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. Equities analysts predict that Align Technology, Inc. will post $2.99 earnings per share for the current year.
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Several research firms have weighed in on ALGN. Zacks Investment Research upgraded Align Technology from a “hold” rating to a “buy” rating and set a $128.00 target price on the stock in a report on Tuesday, April 11th. Stifel Nicolaus restated a “buy” rating and set a $130.00 target price on shares of Align Technology in a report on Tuesday, April 11th. Finally, Jefferies Group LLC raised their target price on Align Technology from $105.00 to $110.00 and gave the company a “buy” rating in a report on Monday, January 23rd. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $106.29.
In other Align Technology news, Director Joseph Lacob sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $102.67, for a total transaction of $5,133,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Andrea Lynn Saia sold 4,000 shares of the company’s stock in a transaction on Wednesday, February 15th. The stock was sold at an average price of $99.68, for a total value of $398,720.00. Following the sale, the director now owns 14,133 shares of the company’s stock, valued at $1,408,777.44. The disclosure for this sale can be found here. Insiders have sold 159,881 shares of company stock valued at $16,161,265 over the last 90 days. Corporate insiders own 2.00% of the company’s stock.
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.
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