Origin Asset Management LLP Sells 27,800 Shares of Align Technology, Inc. (ALGN)
Origin Asset Management LLP lessened its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 12.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 196,716 shares of the medical equipment provider’s stock after selling 27,800 shares during the quarter. Align Technology accounts for approximately 1.8% of Origin Asset Management LLP’s investment portfolio, making the stock its 20th biggest position. Origin Asset Management LLP owned about 0.25% of Align Technology worth $29,531,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC boosted its position in shares of 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 acquiring an additional 25,422 shares during the period. Stifel Financial Corp boosted its position in shares of 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 acquiring an additional 7,834 shares during the period. Karp Capital Management Corp bought a new stake in shares of Align Technology in the first quarter valued at about $2,620,000. American Century Companies Inc. boosted its position in shares of Align Technology by 2,236.0% in the second quarter. American Century Companies Inc. now owns 221,009 shares of the medical equipment provider’s stock valued at $33,178,000 after acquiring an additional 211,548 shares during the period. Finally, Chevy Chase Trust Holdings Inc. bought a new stake in shares of Align Technology in the second quarter valued at about $9,854,000. 81.72% of the stock is owned by institutional investors.
A number of equities research analysts have recently issued reports on the stock. Robert W. Baird reissued a “buy” rating on shares of Align Technology in a research report on Tuesday. Piper Jaffray Companies reissued a “buy” rating and issued a $200.00 target price on shares of Align Technology in a research report on Monday. Leerink Swann reissued an “outperform” rating and issued a $199.00 target price (up previously from $194.00) on shares of Align Technology in a research report on Friday, July 28th. Stifel Nicolaus reissued a “buy” rating and issued a $205.00 target price (up previously from $200.00) on shares of Align Technology in a research report on Monday, August 7th. Finally, Zacks Investment Research cut shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 21st. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $176.80.
Align Technology, Inc. (NASDAQ:ALGN) traded down 0.22% during midday trading on Wednesday, reaching $185.26. 266,024 shares of the company traded hands. The firm has a market capitalization of $14.85 billion, a price-to-earnings ratio of 63.45 and a beta of 1.55. The firm has a 50-day moving average price of $172.28 and a 200-day moving average price of $141.67. Align Technology, Inc. has a one year low of $83.27 and a one year high of $185.87.
Align Technology (NASDAQ:ALGN) last issued its earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.73 by $0.12. Align Technology had a return on equity of 23.87% and a net margin of 19.18%. The business had revenue of $356.50 million during the quarter, compared to the consensus estimate of $343.43 million. During the same quarter last year, the company earned $0.62 EPS. The firm’s revenue was up 32.3% compared to the same quarter last year. Equities analysts predict that Align Technology, Inc. will post $3.40 EPS for the current fiscal year.
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Align Technology Company Profile
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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