Buckingham Capital Management Inc. Acquires 752 Shares of Align Technology, Inc. (ALGN)
Buckingham Capital Management Inc. increased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 26.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,560 shares of the medical equipment provider’s stock after acquiring an additional 752 shares during the period. Buckingham Capital Management Inc.’s holdings in Align Technology were worth $746,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of ALGN. FMR LLC boosted its position in shares of Align Technology by 251.6% during the 2nd quarter. FMR LLC now owns 1,705,510 shares of the medical equipment provider’s stock valued at $583,523,000 after acquiring an additional 1,220,448 shares in the last quarter. Winslow Capital Management LLC boosted its position in Align Technology by 30.2% in the third quarter. Winslow Capital Management LLC now owns 564,651 shares of the medical equipment provider’s stock valued at $220,903,000 after buying an additional 130,982 shares in the last quarter. BlackRock Inc. boosted its position in Align Technology by 2.2% in the third quarter. BlackRock Inc. now owns 5,264,644 shares of the medical equipment provider’s stock valued at $2,059,633,000 after buying an additional 113,728 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new position in Align Technology in the fourth quarter valued at about $23,037,000. Finally, TIAA CREF Investment Management LLC boosted its position in Align Technology by 22.7% in the third quarter. TIAA CREF Investment Management LLC now owns 480,391 shares of the medical equipment provider’s stock valued at $187,939,000 after buying an additional 88,731 shares in the last quarter. Institutional investors and hedge funds own 77.85% of the company’s stock.
Shares of NASDAQ ALGN opened at $244.04 on Thursday. Align Technology, Inc. has a 1-year low of $177.93 and a 1-year high of $398.88. The stock has a market capitalization of $19.48 billion, a price-to-earnings ratio of 49.60, a P/E/G ratio of 2.20 and a beta of 2.00.
A number of equities analysts have commented on ALGN shares. Zacks Investment Research lowered shares of Align Technology from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. Morgan Stanley reduced their price target on shares of Align Technology from $300.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Friday, January 4th. BidaskClub upgraded shares of Align Technology from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. Robert W. Baird reduced their price target on shares of Align Technology from $330.00 to $255.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 2nd. Finally, Goldman Sachs Group started coverage on shares of Align Technology in a research report on Saturday, October 20th. They issued a “buy” rating and a $420.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $326.84.
In other Align Technology news, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction dated Friday, November 30th. The shares were sold at an average price of $231.82, for a total value of $2,318,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Sreelakshmi Kolli sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 27th. The stock was sold at an average price of $223.15, for a total transaction of $1,115,750.00. Following the completion of the transaction, the senior vice president now directly owns 27,180 shares of the company’s stock, valued at $6,065,217. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,764 shares of company stock valued at $5,427,059. Insiders own 1.40% of the company’s stock.
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Align Technology Company Profile
Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.
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