SG Americas Securities LLC reduced its position in Align Technology, Inc. (NASDAQ:ALGN) by 63.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,363 shares of the medical equipment provider’s stock after selling 9,369 shares during the quarter. SG Americas Securities LLC’s holdings in Align Technology were worth $999,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALGN. Schroder Investment Management Group purchased a new stake in shares of Align Technology during the second quarter valued at $104,000. Whittier Trust Co. purchased a new stake in shares of Align Technology during the third quarter valued at $107,000. Bronfman E.L. Rothschild L.P. grew its holdings in shares of Align Technology by 13.0% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock valued at $137,000 after buying an additional 105 shares during the last quarter. BlueMountain Capital Management LLC purchased a new stake in shares of Align Technology during the second quarter valued at $148,000. Finally, Commonwealth Bank of Australia grew its holdings in shares of Align Technology by 10.5% during the second quarter. Commonwealth Bank of Australia now owns 1,129 shares of the medical equipment provider’s stock valued at $169,000 after buying an additional 107 shares during the last quarter. 83.88% of the stock is currently owned by institutional investors and hedge funds.
In other Align Technology news, CFO John Morici sold 1,500 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $255.00, for a total value of $382,500.00. Following the completion of the transaction, the chief financial officer now owns 1,544 shares in the company, valued at $393,720. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Joseph Lacob sold 29,724 shares of the company’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $260.91, for a total transaction of $7,755,288.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,849 shares of company stock valued at $13,494,348. Insiders own 1.60% of the company’s stock.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.19. The business 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 earnings per share. research analysts expect that Align Technology, Inc. will post 3.62 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus reissued a “buy” rating and set a $205.00 price objective (up from $200.00) on shares of Align Technology in a report on Monday, August 7th. Robert W. Baird restated a “buy” rating and set a $290.00 target price on shares of Align Technology in a research report on Wednesday. Credit Suisse Group restated an “outperform” rating and set a $276.00 target price (up from $261.00) on shares of Align Technology in a research report on Tuesday, November 28th. Goldman Sachs Group boosted their target price on shares of Align Technology from $185.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, September 15th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $200.00 target price on shares of Align Technology in a research report on Monday, September 11th. Eleven investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average price target of $235.55.
Align Technology Profile
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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