Atlantic Trust Group LLC Raises Holdings in Align Technology, Inc. (ALGN)

Atlantic Trust Group LLC boosted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 4,682.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 638,935 shares of the medical equipment provider’s stock after acquiring an additional 625,576 shares during the quarter. Atlantic Trust Group LLC owned about 0.80% of Align Technology worth $119,014,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Align Technology by 16.5% in the 2nd quarter. Vanguard Group Inc. now owns 7,299,099 shares of the medical equipment provider’s stock valued at $1,095,740,000 after purchasing an additional 1,034,254 shares during the period. State Street Corp increased its holdings in shares of Align Technology by 32.2% in the 2nd quarter. State Street Corp now owns 3,143,095 shares of the medical equipment provider’s stock valued at $471,823,000 after purchasing an additional 765,189 shares during the period. Janus Henderson Group PLC grew its stake in shares of Align Technology by 200.5% in the 2nd quarter. Janus Henderson Group PLC now owns 594,124 shares of the medical equipment provider’s stock valued at $89,190,000 after buying an additional 396,426 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of Align Technology by 568.4% in the 2nd quarter. Voya Investment Management LLC now owns 441,451 shares of the medical equipment provider’s stock valued at $66,271,000 after buying an additional 375,409 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of Align Technology by 50.5% in the 2nd quarter. Victory Capital Management Inc. now owns 801,612 shares of the medical equipment provider’s stock valued at $120,339,000 after buying an additional 268,826 shares in the last quarter. Hedge funds and other institutional investors own 82.89% of the company’s stock.

Shares of Align Technology, Inc. (NASDAQ:ALGN) traded down $1.40 on Thursday, reaching $233.65. The company’s stock had a trading volume of 486,000 shares, compared to its average volume of 1,021,078. Align Technology, Inc. has a 12-month low of $88.56 and a 12-month high of $266.41. The company has a market capitalization of $18,845.77, a PE ratio of 69.54, a P/E/G ratio of 2.24 and a beta of 1.43.

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

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

In related news, CMO Raphael Pascaud sold 5,400 shares of Align Technology stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $241.88, for a total value of $1,306,152.00. Following the sale, the chief marketing officer now owns 22,228 shares of the company’s stock, valued at approximately $5,376,508.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Lacob sold 29,724 shares of Align Technology 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,849 shares of company stock worth $13,494,348. 1.60% of the stock is currently owned by insiders.

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

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