McCollum Christoferson Group LLC acquired a new position in Align Technology, Inc. (NASDAQ:ALGN) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 21,847 shares of the medical equipment provider’s stock, valued at approximately $4,854,000. Align Technology accounts for approximately 2.0% of McCollum Christoferson Group LLC’s portfolio, making the stock its 19th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Fox Run Management L.L.C. acquired a new stake in shares of Align Technology in the 4th quarter worth about $931,000. Acadian Asset Management LLC increased its holdings in shares of Align Technology by 1,805.5% in the 4th quarter. Acadian Asset Management LLC now owns 111,969 shares of the medical equipment provider’s stock worth $24,879,000 after acquiring an additional 106,093 shares during the period. CAPROCK Group Inc. increased its holdings in shares of Align Technology by 13.2% in the 4th quarter. CAPROCK Group Inc. now owns 1,834 shares of the medical equipment provider’s stock worth $474,000 after acquiring an additional 214 shares during the period. Schwab Charles Investment Management Inc. increased its holdings in shares of Align Technology by 0.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 260,757 shares of the medical equipment provider’s stock worth $57,938,000 after acquiring an additional 851 shares during the period. Finally, HWG Holdings LP increased its holdings in shares of Align Technology by 579.3% in the 4th quarter. HWG Holdings LP now owns 3,057 shares of the medical equipment provider’s stock worth $679,000 after acquiring an additional 2,607 shares during the period. 82.95% of the stock is currently owned by institutional investors and hedge funds.

In other Align Technology news, CFO John Morici sold 1,500 shares of the firm’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $255.00, for a total value of $382,500.00. Following the completion of the transaction, the chief financial officer now directly owns 1,544 shares in the company, valued at $393,720. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Emory Wright sold 5,025 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $263.68, for a total transaction of $1,324,992.00. Following the completion of the transaction, the vice president now owns 80,762 shares of the company’s stock, valued at $21,295,324.16. The disclosure for this sale can be found here. Insiders sold a total of 52,849 shares of company stock worth $13,494,348 in the last ninety days. Corporate insiders own 1.60% of the company’s stock.

Several equities analysts have commented on the stock. Stifel Nicolaus reissued a “buy” rating and set a $225.00 target price (up previously from $205.00) on shares of Align Technology in a research note on Thursday, October 19th. Robert W. Baird set a $208.00 target price on shares of Align Technology and gave the company a “buy” rating in a research note on Wednesday, October 18th. Credit Suisse Group raised shares of Align Technology to a “buy” rating and set a $276.00 target price on the stock in a research note on Thursday, January 4th. Morgan Stanley reissued an “overweight” rating and set a $220.00 target price (up previously from $195.00) on shares of Align Technology in a research note on Friday, October 6th. Finally, Northcoast Research reissued a “buy” rating and set a $230.00 target price (up previously from $200.00) on shares of Align Technology in a research note on Tuesday, October 10th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $236.75.

Shares of Align Technology, Inc. (NASDAQ ALGN) traded down $1.55 on Thursday, hitting $270.70. 1,051,928 shares of the stock traded hands, compared to its average volume of 1,169,275. The firm has a market cap of $21,700.00, a PE ratio of 82.28, a P/E/G ratio of 2.06 and a beta of 1.43. Align Technology, Inc. has a 12 month low of $88.56 and a 12 month high of $273.60.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data 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 company 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 business’s revenue was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. sell-side analysts forecast that Align Technology, Inc. will post 3.67 earnings per share for the current year.

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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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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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