BKS Advisors LLC trimmed its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 54.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 850 shares of the medical equipment provider’s stock after selling 1,000 shares during the period. BKS Advisors LLC’s holdings in Align Technology were worth $242,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in the stock. Captrust Financial Advisors increased its position in shares of Align Technology by 67.6% during the fourth quarter. Captrust Financial Advisors now owns 124 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 50 shares during the period. Berman Capital Advisors LLC purchased a new position in shares of Align Technology during the fourth quarter valued at about $27,000. Gemmer Asset Management LLC increased its position in shares of Align Technology by 57.3% during the fourth quarter. Gemmer Asset Management LLC now owns 140 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 51 shares during the period. Sontag Advisory LLC purchased a new position in shares of Align Technology during the fourth quarter valued at about $30,000. Finally, JOYN Advisors Inc. increased its position in shares of Align Technology by 153.4% during the fourth quarter. JOYN Advisors Inc. now owns 147 shares of the medical equipment provider’s stock valued at $31,000 after buying an additional 89 shares during the period. Institutional investors and hedge funds own 82.62% of the company’s stock.
In other Align Technology news, Director Yuval Shaked sold 400 shares of the stock in a transaction on Monday, February 25th. The shares were sold at an average price of $255.52, for a total transaction of $102,208.00. Following the completion of the transaction, the director now owns 24 shares in the company, valued at $6,132.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Lacob sold 20,000 shares of the stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $258.31, for a total transaction of $5,166,200.00. The disclosure for this sale can be found here. Insiders have sold 21,650 shares of company stock valued at $5,586,633 over the last ninety days. 1.30% of the stock is currently owned by corporate insiders.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.06. The firm had revenue of $549.00 million during the quarter, compared to analysts’ expectations of $532.16 million. Align Technology had a net margin of 18.10% and a return on equity of 30.58%. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.17 earnings per share. On average, sell-side analysts expect that Align Technology, Inc. will post 5.33 earnings per share for the current fiscal year.
ALGN has been the topic of a number of recent research reports. BidaskClub upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a report on Friday, April 26th. UBS Group set a $325.00 price objective on shares of Align Technology and gave the stock a “hold” rating in a report on Friday, April 26th. Credit Suisse Group upped their price objective on shares of Align Technology from $305.00 to $316.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $333.00 target price on the stock in a research note on Friday, April 26th. Finally, Piper Jaffray Companies upped their target price on shares of Align Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Align Technology presently has a consensus rating of “Buy” and an average target price of $340.07.
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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