Sanctuary Wealth Advisors LLC Decreases Position in Align Technology, Inc. (ALGN)
Sanctuary Wealth Advisors LLC cut its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 12.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,878 shares of the medical equipment provider’s stock after selling 3,028 shares during the quarter. Align Technology accounts for about 3.0% of Sanctuary Wealth Advisors LLC’s portfolio, making the stock its 15th largest position. Sanctuary Wealth Advisors LLC’s holdings in Align Technology were worth $3,889,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in ALGN. Teachers Advisors LLC grew its holdings in shares of Align Technology by 4.9% during the 1st quarter. Teachers Advisors LLC now owns 70,197 shares of the medical equipment provider’s stock valued at $8,052,000 after purchasing an additional 3,298 shares during the last quarter. Atria Investments LLC bought a new stake in Align Technology during the 2nd quarter valued at $273,000. Bank of Montreal Can increased its stake in Align Technology by 27.8% during the 2nd quarter. Bank of Montreal Can now owns 204,561 shares of the medical equipment provider’s stock valued at $30,708,000 after purchasing an additional 44,548 shares in the last quarter. NN Investment Partners Holdings N.V. increased its stake in Align Technology by 434.2% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 2,671 shares of the medical equipment provider’s stock valued at $401,000 after purchasing an additional 2,171 shares in the last quarter. Finally, Trust Co. of Vermont increased its stake in Align Technology by 15.4% during the 2nd quarter. Trust Co. of Vermont now owns 1,010 shares of the medical equipment provider’s stock valued at $152,000 after purchasing an additional 135 shares in the last quarter. 80.86% of the stock is currently owned by institutional investors.
Align Technology, Inc. (NASDAQ ALGN) traded down $0.17 during midday trading on Monday, hitting $249.46. 927,500 shares of the stock traded hands, compared to its average volume of 1,006,116. Align Technology, Inc. has a 12-month low of $88.56 and a 12-month high of $254.19. The company has a market cap of $20,001.13, a price-to-earnings ratio of 73.81, a price-to-earnings-growth ratio of 2.39 and a beta of 1.42.
Align Technology (NASDAQ:ALGN) last posted its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.19. The firm had revenue of $385.30 million during the quarter, compared to analyst estimates of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The business’s revenue was up 38.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 EPS. analysts forecast that Align Technology, Inc. will post 3.62 earnings per share for the current fiscal year.
In related news, CMO Raphael Pascaud sold 5,400 shares of the stock in a transaction dated 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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Greg J. Santora sold 7,700 shares of the stock in a transaction dated 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 corporate insiders.
A number of analysts have commented on the stock. Credit Suisse Group restated a “positive” rating and set a $261.00 price target (up previously from $209.00) on shares of Align Technology in a research note 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 for the company in a research note on Monday, October 30th. Leerink Swann restated an “outperform” rating and set a $250.00 price target on shares of Align Technology in a research note on Friday, October 27th. Robert W. Baird restated a “buy” rating and set a $245.00 price target on shares of Align Technology in a research note on Friday, October 27th. Finally, Stifel Nicolaus boosted their price target on shares of Align Technology from $205.00 to $225.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. Eleven equities research analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and an average price target of $219.18.
Align Technology 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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