Dynamic Technology Lab Private Ltd Has $299,000 Stake in Align Technology, Inc. (ALGN)

Dynamic Technology Lab Private Ltd lessened its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 46.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,609 shares of the medical equipment provider’s stock after selling 1,411 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Align Technology were worth $299,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ALGN. Crossmark Global Holdings Inc. bought a new position in shares of Align Technology during the third quarter valued at approximately $2,875,000. Rhumbline Advisers raised its holdings in Align Technology by 4.9% in the third quarter. Rhumbline Advisers now owns 150,816 shares of the medical equipment provider’s stock worth $28,092,000 after purchasing an additional 7,032 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in Align Technology in the second quarter worth $1,768,000. Aperio Group LLC raised its holdings in Align Technology by 38.5% in the third quarter. Aperio Group LLC now owns 42,818 shares of the medical equipment provider’s stock worth $7,976,000 after purchasing an additional 11,892 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Align Technology by 2,236.0% in the second quarter. American Century Companies Inc. now owns 221,009 shares of the medical equipment provider’s stock worth $33,178,000 after purchasing an additional 211,548 shares in the last quarter. 83.88% of the stock is owned by hedge funds and other institutional investors.

Align Technology, Inc. (NASDAQ ALGN) opened at $254.07 on Monday. Align Technology, Inc. has a twelve month low of $88.56 and a twelve month high of $266.41. The firm has a market capitalization of $20,370.83, a price-to-earnings ratio of 75.17, a PEG ratio of 2.43 and a beta of 1.43.

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

In related news, CFO John Morici sold 1,500 shares of the stock in a transaction on Friday, November 24th. The stock was sold at an average price of $255.00, for a total transaction of $382,500.00. Following the sale, the chief financial officer now directly owns 1,544 shares of the company’s stock, valued at $393,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Greg J. Santora sold 7,700 shares of the stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total value of $1,839,915.00. The disclosure for this sale can be found here. Insiders have sold 52,849 shares of company stock valued at $13,494,348 over the last 90 days. Corporate insiders own 1.60% of the company’s stock.

A number of equities analysts have issued reports on ALGN shares. Stifel Nicolaus reiterated a “buy” rating and issued a $205.00 price objective (up previously from $200.00) on shares of Align Technology in a report on Monday, August 7th. Robert W. Baird reiterated a “buy” rating and issued a $245.00 price objective on shares of Align Technology in a report on Friday, October 27th. Northcoast Research reiterated a “buy” rating and issued a $230.00 price objective (up previously from $200.00) on shares of Align Technology in a report on Tuesday, October 10th. Goldman Sachs Group increased their price objective on Align Technology from $185.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, September 15th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $200.00 price objective on shares of Align Technology in a report on Monday, September 11th. Eleven investment analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and an average price target of $235.55.

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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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