Align Technology, Inc. (ALGN) Stake Lessened by KBC Group NV
KBC Group NV decreased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 0.8% during the 4th quarter, Holdings Channel reports. The firm owned 64,576 shares of the medical equipment provider’s stock after selling 490 shares during the quarter. KBC Group NV’s holdings in Align Technology were worth $14,348,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the company. Biondo Investment Advisors LLC increased its stake in shares of Align Technology by 31.2% in the 4th quarter. Biondo Investment Advisors LLC now owns 4,625 shares of the medical equipment provider’s stock valued at $1,028,000 after purchasing an additional 1,100 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Align Technology by 1.8% in the 4th quarter. California Public Employees Retirement System now owns 241,142 shares of the medical equipment provider’s stock valued at $53,579,000 after buying an additional 4,159 shares during the last quarter. Shelton Capital Management bought a new stake in shares of Align Technology in the 4th quarter valued at about $1,548,000. Nicollet Investment Management Inc. bought a new stake in shares of Align Technology in the 4th quarter valued at about $1,514,000. Finally, ING Groep NV grew its position in shares of Align Technology by 346.8% in the 4th quarter. ING Groep NV now owns 10,876 shares of the medical equipment provider’s stock valued at $2,417,000 after buying an additional 8,442 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.
In related news, VP Emory Wright sold 45,780 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $260.08, for a total transaction of $11,906,462.40. Following the transaction, the vice president now directly owns 29,957 shares of the company’s stock, valued at approximately $7,791,216.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph Lacob sold 29,724 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $260.91, for a total value of $7,755,288.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,029 shares of company stock worth $21,369,243. 1.60% of the stock is owned by company insiders.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.23. Align Technology had a return on equity of 28.55% and a net margin of 15.71%. The company had revenue of $421.30 million for the quarter, compared to the consensus estimate of $395.88 million. During the same period in the previous year, the business earned $0.59 EPS. The firm’s revenue was up 43.7% compared to the same quarter last year. equities research analysts anticipate that Align Technology, Inc. will post 4.49 EPS for the current year.
A number of equities research analysts have commented on ALGN shares. Deutsche Bank began coverage on Align Technology in a research report on Friday, December 8th. They issued a “hold” rating and a $250.00 price target on the stock. Zacks Investment Research downgraded Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Morgan Stanley boosted their price objective on Align Technology from $257.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, November 27th. Leerink Swann reissued an “outperform” rating and issued a $250.00 price objective on shares of Align Technology in a research note on Friday, October 27th. Finally, Credit Suisse Group boosted their price objective on Align Technology from $175.00 to $209.00 and gave the company an “outperform” rating in a research note on Friday, October 27th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $258.54.
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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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