Align Technology, Inc. (ALGN) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 297,101 shares of the medical equipment provider’s stock after selling 10,039 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Align Technology were worth $84,475,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in ALGN. Nicollet Investment Management Inc. increased its stake in Align Technology by 0.5% during the first quarter. Nicollet Investment Management Inc. now owns 7,095 shares of the medical equipment provider’s stock worth $2,017,000 after acquiring an additional 35 shares during the last quarter. Quantum Capital Management increased its stake in Align Technology by 3.0% during the first quarter. Quantum Capital Management now owns 1,545 shares of the medical equipment provider’s stock worth $439,000 after acquiring an additional 45 shares during the last quarter. Courier Capital LLC increased its stake in Align Technology by 0.9% during the fourth quarter. Courier Capital LLC now owns 5,605 shares of the medical equipment provider’s stock worth $1,174,000 after acquiring an additional 50 shares during the last quarter. Captrust Financial Advisors increased its stake in Align Technology by 67.6% during the fourth quarter. Captrust Financial Advisors now owns 124 shares of the medical equipment provider’s stock worth $26,000 after acquiring an additional 50 shares during the last quarter. Finally, Cornerstone Advisors Inc. increased its stake in Align Technology by 9.0% during the first quarter. Cornerstone Advisors Inc. now owns 633 shares of the medical equipment provider’s stock worth $180,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 82.91% of the company’s stock.

Several equities research analysts have weighed in on ALGN shares. OTR Global cut Align Technology to a “positive” rating in a research note on Thursday, March 14th. Zacks Investment Research cut Align Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. ValuEngine cut Align Technology from a “buy” rating to a “hold” rating in a research note on Friday, February 22nd. BidaskClub raised Align Technology from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Finally, Barclays set a $325.00 target price on Align Technology and gave the company a “buy” rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Align Technology currently has a consensus rating of “Buy” and a consensus target price of $340.07.

ALGN traded down $10.61 during midday trading on Thursday, hitting $308.21. 15,673 shares of the company were exchanged, compared to its average volume of 1,082,335. The company has a market capitalization of $25.51 billion, a P/E ratio of 64.80, a P/E/G ratio of 2.53 and a beta of 2.14. Align Technology, Inc. has a 1-year low of $177.93 and a 1-year high of $398.88.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $0.89 earnings per share for the quarter, topping the 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 for the quarter, compared to the consensus estimate of $532.16 million. During the same period last year, the firm earned $1.17 EPS. The firm’s revenue for the quarter was up 25.7% compared to the same quarter last year. As a group, analysts predict that Align Technology, Inc. will post 5.4 earnings per share for the current fiscal year.

In other news, Director Joseph Lacob sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $320.00, for a total transaction of $1,600,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CMO Raphael Pascaud sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $326.18, for a total value of $4,892,700.00. Following the sale, the chief marketing officer now owns 34,092 shares in the company, valued at $11,120,128.56. The disclosure for this sale can be found here. Insiders have sold a total of 57,460 shares of company stock worth $17,270,643 over the last 90 days. Insiders own 1.30% of the company’s stock.

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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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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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