Thrivent Financial for Lutherans raised its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,152 shares of the medical equipment provider’s stock after buying an additional 55 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Align Technology were worth $660,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Captrust Financial Advisors lifted its stake in shares of Align Technology by 67.6% in the 4th quarter. Captrust Financial Advisors now owns 124 shares of the medical equipment provider’s stock valued at $26,000 after purchasing an additional 50 shares during the period. Berman Capital Advisors LLC purchased a new position in shares of Align Technology in the 4th quarter valued at approximately $27,000. Gemmer Asset Management LLC lifted its stake in shares of Align Technology by 57.3% in the 4th quarter. Gemmer Asset Management LLC now owns 140 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 51 shares during the period. Sontag Advisory LLC purchased a new position in shares of Align Technology in the 4th quarter valued at approximately $30,000. Finally, JOYN Advisors Inc. lifted its stake in shares of Align Technology by 153.4% in the 4th quarter. JOYN Advisors Inc. now owns 147 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 89 shares during the period. Hedge funds and other institutional investors own 82.93% of the company’s stock.
In related news, Director Yuval Shaked sold 400 shares of Align Technology stock in a transaction on Monday, February 25th. The stock was sold at an average price of $255.52, for a total value of $102,208.00. Following the completion of the sale, the director now owns 24 shares of the company’s stock, valued at $6,132.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Julie Tay sold 1,250 shares of Align Technology 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 completion of the sale, the senior vice president now directly owns 11,926 shares of the company’s stock, valued at approximately $3,036,121.08. The disclosure for this sale can be found here. Insiders sold 21,650 shares of company stock valued at $5,586,633 in the last ninety days. 1.30% of the stock is currently owned by corporate insiders.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.06. Align Technology had a return on equity of 30.58% and a net margin of 18.10%. The company had revenue of $549.00 million during the quarter, compared to analyst estimates of $532.16 million. During the same quarter in the previous year, the company posted $1.17 earnings per share. Align Technology’s revenue was up 25.7% compared to the same quarter last year. Analysts expect that Align Technology, Inc. will post 5.33 EPS for the current year.
A number of brokerages have issued reports on ALGN. BidaskClub upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. UBS Group set a $325.00 price objective on Align Technology and gave the company a “hold” rating in a research note on Friday, April 26th. Zacks Investment Research upgraded Align Technology from a “hold” rating to a “buy” rating and set a $333.00 price objective for the company in a research note on Friday, April 26th. Credit Suisse Group lifted their price objective on Align Technology from $305.00 to $316.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, Barclays lifted their price objective on Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $340.07.
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About Align Technology
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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