Align Technology, Inc. (ALGN) Shares Bought by Pacer Advisors Inc.
Pacer Advisors Inc. increased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 14.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 11,537 shares of the medical equipment provider’s stock after buying an additional 1,433 shares during the period. Pacer Advisors Inc.’s holdings in Align Technology were worth $1,732,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in ALGN. AQR Capital Management LLC boosted its stake in Align Technology by 36.7% in the first quarter. AQR Capital Management LLC now owns 94,715 shares of the medical equipment provider’s stock valued at $10,865,000 after buying an additional 25,422 shares during the period. Stifel Financial Corp boosted its stake in Align Technology by 11.6% in the first quarter. Stifel Financial Corp now owns 75,393 shares of the medical equipment provider’s stock valued at $8,643,000 after buying an additional 7,834 shares during the period. Karp Capital Management Corp bought a new stake in Align Technology during the first quarter valued at approximately $2,620,000. Profund Advisors LLC boosted its stake in Align Technology by 6.8% in the first quarter. Profund Advisors LLC now owns 11,547 shares of the medical equipment provider’s stock valued at $1,325,000 after buying an additional 738 shares during the period. Finally, Chevy Chase Trust Holdings Inc. bought a new stake in Align Technology during the second quarter valued at approximately $9,854,000. 88.07% of the stock is currently owned by institutional investors and hedge funds.
Align Technology, Inc. (NASDAQ:ALGN) opened at 172.55 on Friday. The stock’s 50 day moving average is $165.44 and its 200-day moving average is $135.40. The company has a market capitalization of $13.83 billion, a PE ratio of 59.09 and a beta of 1.55. Align Technology, Inc. has a 12 month low of $83.27 and a 12 month high of $179.76.
Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.12. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. The business had revenue of $356.50 million for the quarter, compared to the consensus estimate of $343.43 million. During the same period in the previous year, the firm earned $0.62 EPS. The company’s quarterly revenue was up 32.3% compared to the same quarter last year. On average, analysts expect that Align Technology, Inc. will post $3.40 EPS for the current year.
A number of equities analysts have issued reports on ALGN shares. Zacks Investment Research cut shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 21st. Morgan Stanley reaffirmed an “overweight” rating and issued a $175.00 price objective on shares of Align Technology in a research note on Monday, June 19th. They noted that the move was a valuation call. Leerink Swann raised their price objective on shares of Align Technology from $149.00 to $194.00 and gave the company an “outperform” rating in a research note on Monday, June 26th. Northcoast Research reaffirmed a “buy” rating and issued a $186.00 price objective (up from $164.00) on shares of Align Technology in a research note on Wednesday, June 21st. Finally, Bank of America Corporation raised shares of Align Technology from a “neutral” rating to a “buy” rating and raised their price objective for the company from $175.00 to $193.00 in a research note on Friday, July 28th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $174.40.
In other Align Technology news, VP Sreelakshmi Kolli sold 1,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $144.00, for a total value of $144,000.00. Following the completion of the transaction, the vice president now owns 23,785 shares of the company’s stock, valued at approximately $3,425,040. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Lacob sold 50,000 shares of the business’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $144.98, for a total value of $7,249,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 54,874 shares of company stock worth $7,950,701. 2.00% of the stock is currently owned by company insiders.
About Align Technology
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.
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