BKS Advisors LLC cut its stake in Align Technology, Inc. (NASDAQ:ALGN) by 54.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 850 shares of the medical equipment provider’s stock after selling 1,000 shares during the period. BKS Advisors LLC’s holdings in Align Technology were worth $242,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC increased its position in Align Technology by 588.2% in the first quarter. Larson Financial Group LLC now owns 117 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 100 shares during the period. Captrust Financial Advisors increased its position in Align Technology by 67.6% in the fourth quarter. Captrust Financial Advisors now owns 124 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 50 shares during the period. Berman Capital Advisors LLC acquired a new stake in Align Technology in the fourth quarter worth $27,000. Gemmer Asset Management LLC increased its position in Align Technology by 57.3% in the fourth quarter. Gemmer Asset Management LLC now owns 140 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 51 shares during the period. Finally, Sontag Advisory LLC acquired a new stake in Align Technology in the fourth quarter worth $30,000. 82.77% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have weighed in on ALGN. Morgan Stanley dropped their target price on Align Technology from $300.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 4th. BidaskClub raised Align Technology from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Piper Jaffray Companies increased their target price on Align Technology from $250.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Credit Suisse Group increased their target price on Align Technology from $270.00 to $278.00 and gave the stock an “outperform” rating in a research report on Monday, March 25th. Finally, UBS Group lowered Align Technology from a “buy” rating to a “neutral” rating and set a $275.00 price target on the stock. in a report on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $329.07.
Shares of ALGN opened at $288.38 on Wednesday. The firm has a market cap of $23.40 billion, a PE ratio of 58.61, a price-to-earnings-growth ratio of 2.68 and a beta of 2.13. Align Technology, Inc. has a one year low of $177.93 and a one year high of $398.88.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Tuesday, January 29th. The medical equipment provider reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. The company had revenue of $534.02 million for the quarter, compared to analyst estimates of $512.03 million. Align Technology had a return on equity of 33.41% and a net margin of 20.35%. Sell-side analysts predict that Align Technology, Inc. will post 5.08 EPS for the current fiscal year.
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About Align Technology
Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.
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