Alps Advisors Inc. Acquires 191 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Alps Advisors Inc. increased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,969 shares of the medical equipment provider’s stock after purchasing an additional 191 shares during the quarter. Alps Advisors Inc.’s holdings in Align Technology were worth $718,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of ALGN. Private Advisor Group LLC increased its position in Align Technology by 138,704.5% during the 2nd quarter. Private Advisor Group LLC now owns 3,786,588 shares of the medical equipment provider’s stock worth $4,704,000 after purchasing an additional 3,783,860 shares in the last quarter. Edgewood Management LLC increased its position in Align Technology by 52.9% during the 2nd quarter. Edgewood Management LLC now owns 3,080,611 shares of the medical equipment provider’s stock worth $843,163,000 after purchasing an additional 1,066,376 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in Align Technology during the 2nd quarter worth approximately $229,902,000. Invesco Ltd. increased its position in Align Technology by 24.9% during the 2nd quarter. Invesco Ltd. now owns 1,507,453 shares of the medical equipment provider’s stock worth $412,590,000 after purchasing an additional 300,590 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Align Technology by 12.3% during the 2nd quarter. Renaissance Technologies LLC now owns 2,537,681 shares of the medical equipment provider’s stock worth $694,563,000 after purchasing an additional 277,681 shares in the last quarter. 82.00% of the stock is owned by hedge funds and other institutional investors.

Shares of ALGN stock traded up $1.35 during mid-day trading on Wednesday, reaching $277.71. 486,121 shares of the company were exchanged, compared to its average volume of 1,232,353. The business’s 50 day simple moving average is $254.82 and its 200 day simple moving average is $238.98. Align Technology, Inc. has a fifty-two week low of $169.84 and a fifty-two week high of $334.64. The company has a market capitalization of $21.86 billion, a P/E ratio of 56.45, a P/E/G ratio of 2.43 and a beta of 2.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.73.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.14. Align Technology had a return on equity of 28.76% and a net margin of 18.28%. The firm had revenue of $607.30 million for the quarter, compared to analysts’ expectations of $595.29 million. During the same period last year, the business posted $1.24 earnings per share. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, analysts forecast that Align Technology, Inc. will post 5.17 EPS for the current year.

A number of analysts recently issued reports on the stock. Guggenheim downgraded shares of Align Technology from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $250.00 to $200.00 in a research report on Monday, October 7th. Stifel Nicolaus increased their price objective on shares of Align Technology from $290.00 to $305.00 and gave the company a “buy” rating in a research report on Monday, November 18th. Zacks Investment Research raised shares of Align Technology from a “sell” rating to a “hold” rating and set a $262.00 price objective for the company in a research report on Friday, October 25th. Barclays lowered their price objective on shares of Align Technology from $300.00 to $272.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Finally, Bank of America increased their price objective on shares of Align Technology from $220.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $253.58.

In other Align Technology news, SVP Stuart A. Hockridge sold 5,049 shares of the firm’s stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $250.08, for a total value of $1,262,653.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Warren S. Thaler sold 1,942 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $250.84, for a total value of $487,131.28. Following the completion of the sale, the director now owns 43,900 shares in the company, valued at $11,011,876. The disclosure for this sale can be found here. Insiders have sold 26,199 shares of company stock worth $6,787,761 over the last 90 days. 1.30% of the stock is currently owned by company insiders.

Align Technology Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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

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