Align Technology, Inc. (ALGN) Holdings Cut by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 50.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 163,495 shares of the medical equipment provider’s stock after selling 163,740 shares during the period. Victory Capital Management Inc.’s holdings in Align Technology were worth $46,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Horan Capital Advisors LLC. purchased a new stake in Align Technology during the 1st quarter worth about $28,000. Larson Financial Group LLC lifted its holdings in Align Technology by 588.2% during the 1st quarter. Larson Financial Group LLC now owns 117 shares of the medical equipment provider’s stock worth $33,000 after buying an additional 100 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Align Technology by 67.6% during the 4th quarter. Captrust Financial Advisors now owns 124 shares of the medical equipment provider’s stock worth $26,000 after buying an additional 50 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in Align Technology by 110.0% during the 1st quarter. Lindbrook Capital LLC now owns 126 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 66 shares during the last quarter. Finally, Berman Capital Advisors LLC purchased a new stake in Align Technology during the 4th quarter worth about $27,000. 81.53% of the stock is owned by institutional investors.

A number of analysts have issued reports on ALGN shares. OTR Global downgraded Align Technology to a “positive” rating in a report on Thursday, March 14th. Zacks Investment Research downgraded Align Technology from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. ValuEngine downgraded Align Technology from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. BidaskClub raised Align Technology from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Finally, Barclays set a $325.00 price target on Align Technology and gave the stock a “buy” rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $340.07.

In related news, SVP Julie Tay sold 3,560 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $325.00, for a total value of $1,157,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph Lacob sold 20,000 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $258.31, for a total value of $5,166,200.00. The disclosure for this sale can be found here. Insiders have sold 23,960 shares of company stock worth $6,425,408 in the last quarter. Insiders own 1.30% of the company’s stock.

ALGN opened at $320.09 on Wednesday. Align Technology, Inc. has a one year low of $177.93 and a one year high of $398.88. The stock has a market cap of $24.81 billion, a PE ratio of 65.06, a PEG ratio of 2.49 and a beta of 2.14.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.89 EPS for the quarter, topping the Zacks’ 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 business had revenue of $549.00 million for the quarter, compared to analysts’ expectations of $532.16 million. During the same quarter in the previous year, the firm earned $1.17 earnings per share. The business’s revenue was up 25.7% compared to the same quarter last year. Research analysts forecast that Align Technology, Inc. will post 5.33 EPS for the current fiscal year.

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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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