BNP Paribas Arbitrage SA Increases Position in Align Technology, Inc. (ALGN)
BNP Paribas Arbitrage SA boosted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 7.4% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 44,996 shares of the medical equipment provider’s stock after buying an additional 3,101 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.06% of Align Technology worth $8,381,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Schroder Investment Management Group acquired a new position in Align Technology in the 2nd quarter valued at about $104,000. CENTRAL TRUST Co grew its position in shares of Align Technology by 128.5% during the 2nd quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock worth $105,000 after purchasing an additional 392 shares in the last quarter. Whittier Trust Co. acquired a new position in shares of Align Technology during the 3rd quarter worth approximately $107,000. Bronfman E.L. Rothschild L.P. grew its position in shares of Align Technology by 13.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock worth $137,000 after purchasing an additional 105 shares in the last quarter. Finally, BlueMountain Capital Management LLC acquired a new position in shares of Align Technology during the 2nd quarter worth approximately $148,000. Institutional investors and hedge funds own 80.86% of the company’s stock.
In related news, CMO Raphael Pascaud sold 5,400 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief marketing officer now owns 22,228 shares of the company’s stock, valued at approximately $5,376,508.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Greg J. Santora sold 7,700 shares of the 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. In the last three months, insiders sold 16,600 shares of company stock valued at $4,031,567. 1.60% of the stock is owned by insiders.
A number of brokerages have issued reports on ALGN. Stifel Nicolaus restated a “buy” rating and set a $225.00 target price (up previously from $205.00) on shares of Align Technology in a research report on Thursday, October 19th. Northcoast Research restated a “buy” rating and set a $230.00 target price (up previously from $200.00) on shares of Align Technology in a research report on Tuesday, October 10th. Credit Suisse Group restated a “positive” rating and set a $261.00 target price (up previously from $209.00) on shares of Align Technology in a research report on Thursday, November 9th. Bank of America Corporation upgraded shares of Align Technology from a “neutral” rating to a “buy” rating and increased their target price for the stock from $175.00 to $193.00 in a research report on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 target price on the stock in a research report on Monday, October 30th. Eleven research analysts have rated the stock with a buy rating, Align Technology currently has a consensus rating of “Buy” and a consensus target price of $219.18.
Shares of Align Technology, Inc. (NASDAQ ALGN) opened at $249.19 on Thursday. The firm has a market cap of $20,366.74, a P/E ratio of 75.15, a PEG ratio of 2.43 and a beta of 1.42. Align Technology, Inc. has a twelve month low of $88.56 and a twelve month high of $257.60.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, beating the Thomson Reuters’ 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%. The firm’s revenue was up 38.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.63 EPS. equities analysts predict that Align Technology, Inc. will post 3.62 earnings per share 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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