Comerica Bank reduced its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 13.2% in the fourth quarter, HoldingsChannel reports. The firm owned 24,893 shares of the medical equipment provider’s stock after selling 3,773 shares during the period. Comerica Bank’s holdings in Align Technology were worth $6,778,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position 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. Bank of New York Mellon Corp grew its position in Align Technology by 2.2% in the third quarter. Bank of New York Mellon Corp now owns 1,946,097 shares of the medical equipment provider’s stock worth $362,499,000 after acquiring an additional 42,570 shares in the last quarter. Janus Henderson Group PLC grew its position in Align Technology by 26.6% in the third quarter. Janus Henderson Group PLC now owns 752,014 shares of the medical equipment provider’s stock worth $140,077,000 after acquiring an additional 157,890 shares in the last quarter. Atlantic Trust Group LLC grew its position in Align Technology by 4,682.8% in the third quarter. Atlantic Trust Group LLC now owns 638,935 shares of the medical equipment provider’s stock worth $119,014,000 after acquiring an additional 625,576 shares in the last quarter. Finally, Legal & General Group Plc grew its position in Align Technology by 221.0% in the third quarter. Legal & General Group Plc now owns 383,295 shares of the medical equipment provider’s stock worth $71,396,000 after acquiring an additional 263,875 shares in the last quarter. Hedge funds and other institutional investors own 82.50% of the company’s stock.

ALGN has been the subject of several research reports. Robert W. Baird reiterated a “buy” rating and issued a $245.00 target price on shares of Align Technology in a research report on Friday, October 27th. Stifel Nicolaus upped their target price 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. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 target price for the company in a research report on Monday, October 30th. Credit Suisse Group upgraded shares of Align Technology to a “buy” rating and set a $276.00 target price for the company in a research report on Thursday, January 4th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $300.00 target price on shares of Align Technology in a research report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $258.54.

Shares of Align Technology, Inc. (ALGN) opened at $229.37 on Friday. The firm has a market cap of $17,696.02, a price-to-earnings ratio of 56.59, a price-to-earnings-growth ratio of 1.68 and a beta of 1.48. Align Technology, Inc. has a one year low of $94.20 and a one year high of $287.32.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.23. The business had revenue of $421.30 million during the quarter, compared to the consensus estimate of $395.88 million. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The firm’s revenue for the quarter was up 43.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share. equities analysts anticipate that Align Technology, Inc. will post 4.49 EPS for the current fiscal year.

In other news, CFO John Morici sold 1,500 shares of the company’s stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $255.00, for a total transaction of $382,500.00. Following the completion of the transaction, the chief financial officer now directly owns 1,544 shares of the company’s stock, valued at $393,720. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Julie Tay sold 3,500 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $253.00, for a total transaction of $885,500.00. Following the transaction, the vice president now directly owns 12,213 shares of the company’s stock, valued at $3,089,889. The disclosure for this sale can be found here. Insiders sold 85,529 shares of company stock valued at $22,254,743 over the last three months. 1.60% of the stock is currently owned by insiders.

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About Align Technology

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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