Flagship Harbor Advisors LLC lessened its holdings in Align Technology, Inc. (NASDAQ:ALGN – Get Rating) by 4.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,996 shares of the medical equipment provider’s stock after selling 100 shares during the period. Flagship Harbor Advisors LLC’s holdings in Align Technology were worth $667,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Align Technology by 12.1% in the 3rd quarter. Vanguard Group Inc. now owns 8,213,345 shares of the medical equipment provider’s stock valued at $1,701,067,000 after purchasing an additional 889,705 shares in the last quarter. Sands Capital Management LLC boosted its holdings in Align Technology by 14.9% in the 4th quarter. Sands Capital Management LLC now owns 2,660,870 shares of the medical equipment provider’s stock worth $561,177,000 after buying an additional 345,647 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Align Technology by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,549,279 shares of the medical equipment provider’s stock worth $326,167,000 after buying an additional 37,047 shares during the last quarter. Brown Advisory Inc. boosted its holdings in Align Technology by 22.9% in the 4th quarter. Brown Advisory Inc. now owns 1,145,543 shares of the medical equipment provider’s stock worth $241,595,000 after buying an additional 213,782 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Align Technology by 14.0% in the 4th quarter. Morgan Stanley now owns 1,064,281 shares of the medical equipment provider’s stock worth $224,457,000 after buying an additional 131,006 shares during the last quarter. Hedge funds and other institutional investors own 86.62% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on ALGN shares. Stifel Nicolaus lifted their price objective on Align Technology from $375.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, April 18th. Bank of America lifted their price objective on Align Technology from $190.00 to $225.00 in a report on Thursday, April 27th. Morgan Stanley boosted their target price on Align Technology from $314.00 to $383.00 and gave the stock an “overweight” rating in a report on Wednesday, April 19th. VNET Group restated a “maintains” rating on shares of Align Technology in a report on Thursday, April 27th. Finally, StockNews.com began coverage on Align Technology in a report on Thursday, May 18th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Align Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $347.78.
Align Technology Stock Performance
Align Technology (NASDAQ:ALGN – Get Rating) last released its quarterly earnings results on Wednesday, April 26th. The medical equipment provider reported $1.33 EPS for the quarter, missing the consensus estimate of $1.35 by ($0.02). The firm had revenue of $943.15 million for the quarter, compared to analysts’ expectations of $908.29 million. Align Technology had a net margin of 8.51% and a return on equity of 11.18%. Equities research analysts predict that Align Technology, Inc. will post 6.8 EPS for the current fiscal year.
Insider Activity
In other news, Director Kevin J. Dallas purchased 7,000 shares of Align Technology stock in a transaction dated Tuesday, May 30th. The shares were purchased at an average price of $285.26 per share, with a total value of $1,996,820.00. Following the transaction, the director now owns 12,246 shares in the company, valued at $3,493,293.96. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.72% of the company’s stock.
Align Technology Company Profile
Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, China, and internationally. It operates in two segments, Clear Aligner; and Imaging Systems and CAD/CAM Services (Systems and Services).
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