HL Financial Services LLC Invests $4.17 Million in Align Technology, Inc. (ALGN)
HL Financial Services LLC purchased a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 22,380 shares of the medical equipment provider’s stock, valued at approximately $4,169,000.
Several other institutional investors have also added to or reduced their stakes in ALGN. Vanguard Group Inc. raised its holdings in shares of Align Technology by 16.5% during 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 in the last quarter. State Street Corp raised its holdings in shares of Align Technology by 32.2% during 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 in the last quarter. Federated Investors Inc. PA raised its holdings in Align Technology by 794.9% in the 2nd quarter. Federated Investors Inc. PA now owns 685,086 shares of the medical equipment provider’s stock worth $102,846,000 after acquiring an additional 608,535 shares during the period. Janus Henderson Group PLC raised its holdings in 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 worth $89,190,000 after acquiring an additional 396,426 shares during the period. Finally, Voya Investment Management LLC raised its holdings in 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 worth $66,271,000 after acquiring an additional 375,409 shares during the period. Institutional investors and hedge funds own 81.16% of the company’s stock.
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Several analysts have issued reports on the stock. Credit Suisse Group restated a “positive” rating and issued a $261.00 price target (up from $209.00) on shares of Align Technology in a research report on Thursday. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price target on the stock in a research report on Monday, October 30th. Stifel Nicolaus raised their price target on shares of Align Technology from $205.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. Robert W. Baird restated a “buy” rating and issued a $245.00 price target on shares of Align Technology in a research report on Friday, October 27th. Finally, Leerink Swann restated an “outperform” rating and issued a $250.00 price target on shares of Align Technology in a research report on Friday, October 27th. Eleven investment analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus target price of $219.18.
In related news, CMO Raphael Pascaud sold 5,400 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $241.88, for a total transaction of $1,306,152.00. Following the completion of the transaction, the chief marketing officer now owns 22,228 shares in the company, valued at $5,376,508.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Greg J. Santora sold 7,700 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total transaction of $1,839,915.00. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by insiders.
Align Technology, Inc. (ALGN) traded down $0.17 on Friday, hitting $249.46. 927,500 shares of the company were exchanged, compared to its average volume of 1,006,116. The company has a market capitalization of $20,014.76, a P/E ratio of 73.86, a price-to-earnings-growth ratio of 2.39 and a beta of 1.42. Align Technology, Inc. has a twelve month low of $88.56 and a twelve month high of $254.19.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.19. The business had revenue of $385.30 million during the quarter, compared to the consensus estimate of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. Align Technology’s revenue for the quarter was up 38.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 earnings per share. equities research analysts expect that Align Technology, Inc. will post 3.62 EPS for the current year.
Align Technology Company 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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