Amundi Pioneer Asset Management Inc. increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 6.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 189,285 shares of the medical equipment provider’s stock after purchasing an additional 10,916 shares during the period. Amundi Pioneer Asset Management Inc. owned 0.24% of Align Technology worth $53,819,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in shares of Align Technology by 4.4% during the fourth quarter. Advisors Asset Management Inc. now owns 20,575 shares of the medical equipment provider’s stock valued at $4,309,000 after acquiring an additional 858 shares during the last quarter. BlackRock Inc. increased its position in shares of Align Technology by 31.7% during the fourth quarter. BlackRock Inc. now owns 6,935,085 shares of the medical equipment provider’s stock valued at $1,452,414,000 after acquiring an additional 1,670,441 shares during the last quarter. Bank Hapoalim BM boosted its stake in shares of Align Technology by 85.6% in the fourth quarter. Bank Hapoalim BM now owns 969 shares of the medical equipment provider’s stock valued at $203,000 after purchasing an additional 447 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Align Technology by 22.4% in the fourth quarter. Bank of New York Mellon Corp now owns 1,334,677 shares of the medical equipment provider’s stock valued at $279,521,000 after purchasing an additional 244,095 shares during the period. Finally, AlphaCrest Capital Management LLC purchased a new position in shares of Align Technology in the fourth quarter valued at approximately $449,000. Hedge funds and other institutional investors own 82.62% of the company’s stock.
In other news, CFO John Morici sold 2,374 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $286.91, for a total transaction of $681,124.34. Following the transaction, the chief financial officer now directly owns 2,913 shares of the company’s stock, valued at approximately $835,768.83. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Julie Tay sold 3,560 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $325.00, for a total transaction of $1,157,000.00. The disclosure for this sale can be found here. Insiders sold a total of 55,283 shares of company stock worth $17,483,871 over the last three months. 1.30% of the stock is currently owned by corporate insiders.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.06. The company had revenue of $549.00 million for the quarter, compared to analysts’ expectations of $532.16 million. Align Technology had a net margin of 18.10% and a return on equity of 30.58%. Align Technology’s revenue was up 25.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.17 EPS. On average, equities research analysts forecast that Align Technology, Inc. will post 5.4 EPS for the current fiscal year.
ALGN has been the subject of several recent research reports. UBS Group reissued a “hold” rating and issued a $7.80 price objective on shares of Deutsche Bank in a research note on Friday, April 26th. Guggenheim began coverage on shares of Patterson Companies in a research note on Wednesday, April 17th. They issued a “neutral” rating and a $23.00 price target for the company. Credit Suisse Group reiterated a “hold” rating and issued a $32.00 price target on shares of CRH in a research note on Thursday, April 25th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, BidaskClub downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $323.73.
Align Technology Company Profile
Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.
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