Buckingham Asset Management LLC Acquires 802 Shares of Align Technology, Inc. (ALGN)
Buckingham Asset Management LLC increased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 43.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,663 shares of the medical equipment provider’s stock after buying an additional 802 shares during the period. Buckingham Asset Management LLC’s holdings in Align Technology were worth $496,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Schroder Investment Management Group bought a new position in Align Technology during the 2nd quarter worth approximately $104,000. CENTRAL TRUST Co raised its holdings in Align Technology by 128.5% during the 2nd quarter. CENTRAL TRUST Co now owns 697 shares of the medical equipment provider’s stock worth $105,000 after purchasing an additional 392 shares during the last quarter. Whittier Trust Co. bought a new position in Align Technology during the 3rd quarter worth approximately $107,000. Bronfman E.L. Rothschild L.P. raised its holdings in Align Technology by 13.0% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock worth $137,000 after purchasing an additional 105 shares during the last quarter. Finally, BlueMountain Capital Management LLC bought a new position in Align Technology during the 2nd quarter worth approximately $148,000. Institutional investors and hedge funds own 80.86% of the company’s stock.
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Several research firms have issued reports on ALGN. Stifel Nicolaus restated a “buy” rating and set a $205.00 price target (up previously from $200.00) on shares of Align Technology in a report on Monday, August 7th. Credit Suisse Group reiterated a “positive” rating and issued a $261.00 price objective (up previously from $209.00) on shares of Align Technology in a research note on Thursday, November 9th. The Goldman Sachs Group, Inc. lifted their price objective on shares of Align Technology from $185.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, September 15th. Robert W. Baird set a $208.00 price objective on shares of Align Technology and gave the company a “buy” rating in a research note on Wednesday, October 18th. Finally, Bank of America Corporation upgraded shares of Align Technology from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $175.00 to $193.00 in a research note on Friday, July 28th. Eleven equities research analysts have rated the stock with a buy rating, Align Technology presently has an average rating of “Buy” and an average price target of $219.18.
In other Align Technology news, VP Julie Tay sold 3,500 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $253.00, for a total transaction of $885,500.00. Following the sale, the vice president now directly owns 12,213 shares of the company’s stock, valued at $3,089,889. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CMO Raphael Pascaud sold 5,400 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $241.88, for a total transaction of $1,306,152.00. Following the sale, the chief marketing officer now directly owns 22,228 shares in the company, valued at $5,376,508.64. The disclosure for this sale can be found here. Insiders have sold a total of 16,600 shares of company stock worth $4,031,567 over the last ninety days. Insiders own 1.60% of the company’s stock.
Shares of Align Technology, Inc. (NASDAQ ALGN) traded down $1.21 during mid-day trading on Friday, reaching $253.71. 399,544 shares of the company’s stock were exchanged, compared to its average volume of 1,007,875. The company has a market cap of $20,370.00, a price-to-earnings ratio of 73.72, a PEG ratio of 2.38 and a beta of 1.41. Align Technology, Inc. has a fifty-two week low of $88.56 and a fifty-two week high of $257.60.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.19. The business had revenue of $385.30 million during the quarter, compared to analyst estimates of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. Align Technology’s quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 EPS. analysts forecast that Align Technology, Inc. will post 3.62 EPS for the current fiscal year.
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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