TD Asset Management Inc. cut its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 10.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 48,118 shares of the medical equipment provider’s stock after selling 5,823 shares during the quarter. TD Asset Management Inc.’s holdings in Align Technology were worth $10,077,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. FMR LLC increased its position in shares of Align Technology by 251.6% during the second quarter. FMR LLC now owns 1,705,510 shares of the medical equipment provider’s stock valued at $583,523,000 after acquiring an additional 1,220,448 shares during the last quarter. Capital Investment Advisors LLC acquired a new stake in shares of Align Technology during the third quarter valued at about $222,000. First Hawaiian Bank acquired a new stake in shares of Align Technology during the third quarter valued at about $1,852,000. Andra AP fonden increased its position in shares of Align Technology by 4.4% during the third quarter. Andra AP fonden now owns 16,500 shares of the medical equipment provider’s stock valued at $6,455,000 after acquiring an additional 700 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Align Technology by 36.7% during the third quarter. Nisa Investment Advisors LLC now owns 47,275 shares of the medical equipment provider’s stock valued at $18,495,000 after acquiring an additional 12,693 shares during the last quarter. 82.64% of the stock is currently owned by institutional investors.
A number of research analysts recently weighed in on ALGN shares. Goldman Sachs Group started coverage on shares of Align Technology in a report on Saturday, October 20th. They issued a “buy” rating and a $420.00 price objective for the company. William Blair restated an “outperform” rating on shares of Align Technology in a report on Monday, November 19th. ValuEngine cut shares of Align Technology from a “strong-buy” rating to a “buy” rating in a report on Friday, October 26th. Credit Suisse Group dropped their price objective on shares of Align Technology from $391.00 to $375.00 and set an “outperform” rating for the company in a report on Thursday, October 25th. Finally, Morgan Stanley dropped their price objective on shares of Align Technology from $300.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $326.84.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Tuesday, January 29th. The medical equipment provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.16 by $0.04. Align Technology had a net margin of 20.35% and a return on equity of 33.41%. The company had revenue of $534.02 million during the quarter, compared to the consensus estimate of $512.03 million. As a group, equities research analysts forecast that Align Technology, Inc. will post 5.02 EPS for the current fiscal year.
In other news, VP Christopher C. Puco sold 8,764 shares of the business’s stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $227.42, for a total transaction of $1,993,108.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Sreelakshmi Kolli sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 27th. The stock was sold at an average price of $223.15, for a total transaction of $1,115,750.00. Following the sale, the senior vice president now owns 27,180 shares of the company’s stock, valued at approximately $6,065,217. The disclosure for this sale can be found here. Insiders sold 23,764 shares of company stock valued at $5,427,059 in the last quarter. 1.40% of the stock is owned by insiders.
Align Technology Profile
Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.
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