Align Technology, Inc. (ALGN) Shares Sold by Principal Financial Group Inc.
Principal Financial Group Inc. decreased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 8.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 112,783 shares of the medical equipment provider’s stock after selling 10,336 shares during the period. Principal Financial Group Inc. owned 0.14% of Align Technology worth $21,008,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of ALGN. Teachers Advisors LLC boosted its holdings in shares of Align Technology by 4.9% in the 1st quarter. Teachers Advisors LLC now owns 70,197 shares of the medical equipment provider’s stock valued at $8,052,000 after buying an additional 3,298 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its holdings in shares of Align Technology by 434.2% in the 2nd quarter. NN Investment Partners Holdings N.V. now owns 2,671 shares of the medical equipment provider’s stock valued at $401,000 after buying an additional 2,171 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Align Technology in the 2nd quarter valued at $192,000. Eqis Capital Management Inc. acquired a new position in shares of Align Technology in the 2nd quarter valued at $327,000. Finally, Aperio Group LLC boosted its holdings in shares of Align Technology by 35.4% in the 2nd quarter. Aperio Group LLC now owns 30,926 shares of the medical equipment provider’s stock valued at $4,643,000 after buying an additional 8,084 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.
Shares of Align Technology, Inc. (NASDAQ:ALGN) opened at $254.38 on Thursday. Align Technology, Inc. has a 52 week low of $88.56 and a 52 week high of $258.88. The company has a market cap of $20,559.97, a price-to-earnings ratio of 75.87, a PEG ratio of 2.45 and a beta of 1.42.
Align Technology (NASDAQ:ALGN) last released its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.82 by $0.19. Align Technology had a net margin of 21.85% and a return on equity of 29.30%. The company had revenue of $385.30 million during the quarter, compared to analysts’ expectations of $359.80 million. During the same quarter last year, the business earned $0.63 EPS. The business’s revenue was up 38.3% on a year-over-year basis. research analysts forecast that Align Technology, Inc. will post 3.62 earnings per share for the current year.
In other news, VP Julie Tay sold 3,500 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $253.00, for a total value of $885,500.00. Following the completion of the transaction, the vice president now owns 12,213 shares in the company, valued at approximately $3,089,889. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Greg J. Santora sold 7,700 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $238.95, for a total transaction of $1,839,915.00. The disclosure for this sale can be found here. Insiders sold a total of 16,600 shares of company stock valued at $4,031,567 in the last 90 days. Company insiders own 1.60% of the company’s stock.
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A number of brokerages recently weighed in on ALGN. Stifel Nicolaus reiterated a “buy” rating and set a $205.00 price target (up previously from $200.00) on shares of Align Technology in a research note on Monday, August 7th. Piper Jaffray Companies reiterated a “buy” rating and set a $176.00 price target on shares of Align Technology in a research note on Friday, July 28th. Robert W. Baird reiterated a “buy” rating and set a $245.00 price target on shares of Align Technology in a research note on Friday, October 27th. Credit Suisse Group increased their price target on shares of Align Technology from $175.00 to $209.00 and gave the stock an “outperform” rating in a research note on Friday, October 27th. Finally, Leerink Swann reiterated an “outperform” rating and set a $199.00 price target (up previously from $194.00) on shares of Align Technology in a research note on Friday, July 28th. Eleven investment analysts have rated the stock with a buy rating, Align Technology currently has an average rating of “Buy” and an average target price of $222.82.
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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