MetLife Investment Advisors LLC lowered its position in Align Technology, Inc. (NASDAQ:ALGN) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,825 shares of the medical equipment provider’s stock after selling 447 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Align Technology were worth $4,361,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of ALGN. SRS Investment Management LLC acquired a new position in shares of Align Technology in the 4th quarter valued at $5,458,000. Candriam Luxembourg S.C.A. boosted its position in shares of Align Technology by 6.6% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 5,609 shares of the medical equipment provider’s stock worth $1,175,000 after purchasing an additional 349 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its position in shares of Align Technology by 24.8% during the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 33,700 shares of the medical equipment provider’s stock worth $7,058,000 after purchasing an additional 6,700 shares in the last quarter. First Foundation Advisors boosted its position in shares of Align Technology by 287.7% during the 4th quarter. First Foundation Advisors now owns 7,910 shares of the medical equipment provider’s stock worth $1,657,000 after purchasing an additional 5,870 shares in the last quarter. Finally, Partner Fund Management L.P. purchased a new stake in shares of Align Technology in the 4th quarter worth about $49,687,000. Institutional investors own 82.79% of the company’s stock.
In related news, Director Joseph Lacob sold 20,000 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $258.31, for a total transaction of $5,166,200.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Julie Tay sold 1,250 shares of the firm’s stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $254.58, for a total value of $318,225.00. Following the transaction, the senior vice president now owns 11,926 shares in the company, valued at $3,036,121.08. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,650 shares of company stock valued at $5,586,633. 1.40% of the stock is owned by company insiders.
Align Technology (NASDAQ:ALGN) last posted its earnings results on Tuesday, January 29th. The medical equipment provider reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.16 by $0.04. The firm had revenue of $534.02 million during the quarter, compared to the consensus estimate of $512.03 million. Align Technology had a net margin of 20.35% and a return on equity of 33.41%. On average, analysts expect that Align Technology, Inc. will post 5.08 EPS for the current year.
Several equities research analysts recently commented on ALGN shares. ValuEngine upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. UBS Group started coverage on shares of Align Technology in a research report on Thursday, January 17th. They issued a “buy” rating and a $230.00 price objective on the stock. Barclays reiterated a “buy” rating and issued a $275.00 price objective on shares of Align Technology in a research report on Sunday, January 6th. BidaskClub upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Friday, March 22nd. Finally, Morgan Stanley reduced their target price on shares of Align Technology from $300.00 to $210.00 and set an “equal weight” rating on the stock in a report on Friday, January 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Align Technology has an average rating of “Buy” and an average target price of $329.07.
Align Technology Company 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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