Vanguard Group Inc. Boosts Position in Align Technology Inc. (ALGN)
Vanguard Group Inc. boosted its stake in shares of Align Technology Inc. (NASDAQ:ALGN) by 7.8% during the second quarter, according to its most recent filing with the SEC. The firm owned 5,552,971 shares of the company’s stock after buying an additional 401,560 shares during the period. Vanguard Group Inc. owned about 6.94% of Align Technology worth $447,292,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. boosted its stake in Align Technology by 2.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,181,768 shares of the company’s stock valued at $158,593,000 after buying an additional 41,935 shares during the last quarter. State Street Corp boosted its stake in shares of Align Technology by 3.3% in the first quarter. State Street Corp now owns 2,040,711 shares of the company’s stock worth $148,342,000 after buying an additional 64,984 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Align Technology by 7,138.7% in the first quarter. Wellington Management Group LLP now owns 939,946 shares of the company’s stock worth $68,325,000 after buying an additional 926,961 shares in the last quarter. Geneva Advisors LLC boosted its stake in shares of Align Technology by 23.0% in the second quarter. Geneva Advisors LLC now owns 875,771 shares of the company’s stock worth $70,543,000 after buying an additional 163,577 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Align Technology by 14.1% in the first quarter. Renaissance Technologies LLC now owns 700,807 shares of the company’s stock worth $50,942,000 after buying an additional 86,526 shares in the last quarter. 87.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Align Technology Inc. (NASDAQ:ALGN) opened at 91.47 on Tuesday. The company has a market cap of $7.32 billion, a P/E ratio of 44.62 and a beta of 1.87. Align Technology Inc. has a 12 month low of $55.32 and a 12 month high of $96.90. The stock’s 50 day moving average is $93.77 and its 200-day moving average is $82.66.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Thursday, July 28th. The company reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.14. The company earned $269.40 million during the quarter, compared to the consensus estimate of $259.29 million. Align Technology had a net margin of 17.67% and a return on equity of 19.40%. Align Technology’s revenue was up 28.6% compared to the same quarter last year. During the same period last year, the firm earned $0.39 earnings per share. On average, equities analysts forecast that Align Technology Inc. will post $2.28 EPS for the current year.
ALGN has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating and set a $97.00 price objective for the company in a report on Wednesday, July 13th. Stifel Nicolaus boosted their price objective on shares of Align Technology from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Finally, Robert W. Baird lowered shares of Align Technology from an “outperform” rating to a “neutral” rating and set a $96.00 price objective for the company. in a report on Monday. One investment analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $85.09.
In other Align Technology news, VP Jennifer Olson sold 799 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $93.30, for a total value of $74,546.70. Following the completion of the transaction, the vice president now owns 4,483 shares of the company’s stock, valued at $418,263.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Julie Tay sold 3,000 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $92.60, for a total transaction of $277,800.00. Following the completion of the transaction, the vice president now directly owns 3,104 shares of the company’s stock, valued at approximately $287,430.40. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.
Align Technology Company Profile
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and 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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