Breton Hill Capital Ltd. Decreases Holdings in Align Technology, Inc. (ALGN)
Breton Hill Capital Ltd. cut its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 23.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,681 shares of the medical equipment provider’s stock after selling 519 shares during the quarter. Breton Hill Capital Ltd.’s holdings in Align Technology were worth $313,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Crossmark Global Holdings Inc. purchased a new position in shares of Align Technology during the third quarter worth approximately $2,875,000. Oppenheimer & Co. Inc. purchased a new position in shares of Align Technology during the second quarter worth approximately $1,768,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Align Technology during the second quarter worth approximately $454,000. American Century Companies Inc. raised its stake in shares of Align Technology by 2,236.0% during the second quarter. American Century Companies Inc. now owns 221,009 shares of the medical equipment provider’s stock worth $33,178,000 after acquiring an additional 211,548 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Align Technology by 17.8% during the second quarter. Robeco Institutional Asset Management B.V. now owns 90,969 shares of the medical equipment provider’s stock worth $13,657,000 after acquiring an additional 13,753 shares in the last quarter. 81.16% of the stock is currently owned by hedge funds and other institutional investors.
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Align Technology, Inc. (NASDAQ ALGN) traded down $0.17 during trading hours on Friday, reaching $249.46. 927,500 shares of the company traded hands, compared to its average volume of 1,295,819. The company has a market capitalization of $20,001.21, a PE ratio of 73.80, a P/E/G 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 released its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.19. The business had revenue of $385.30 million for the quarter, compared to analysts’ expectations of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The firm’s revenue for the quarter was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. sell-side analysts forecast that Align Technology, Inc. will post 3.62 EPS for the current year.
Several research firms have commented on ALGN. Credit Suisse Group reissued a “positive” rating and set a $261.00 price target (up from $209.00) on shares of Align Technology in a research note on Thursday. Zacks Investment Research raised 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 note on Monday, October 30th. Leerink Swann reaffirmed an “outperform” rating and issued a $250.00 target price on shares of Align Technology in a research note on Friday, October 27th. Robert W. Baird reaffirmed a “buy” rating and issued a $245.00 target price on shares of Align Technology in a research note on Friday, October 27th. Finally, Stifel Nicolaus lifted their target price on shares of Align Technology from $205.00 to $225.00 and gave the stock a “buy” rating in a research note on Monday, October 23rd. Eleven analysts have rated the stock with a buy rating, Align Technology currently 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 Align Technology stock in a transaction on Friday, November 3rd. The shares were 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 in the company, valued at $5,376,508.64. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Greg J. Santora sold 7,700 shares of Align Technology stock in a transaction 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. Insiders own 1.60% of the company’s stock.
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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