Jaffetilchin Investment Partners LLC reduced its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 22.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,448 shares of the medical equipment provider’s stock after selling 1,617 shares during the quarter. Jaffetilchin Investment Partners LLC’s holdings in Align Technology were worth $1,210,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Schroder Investment Management Group purchased a new stake in shares of Align Technology during the second quarter valued at $104,000. Whittier Trust Co. purchased a new stake in shares of Align Technology during the third quarter valued at $107,000. BlueMountain Capital Management LLC purchased a new stake in shares of Align Technology during the second quarter valued at $148,000. Commonwealth Bank of Australia boosted its stake in shares of Align Technology by 10.5% during the second quarter. Commonwealth Bank of Australia now owns 1,129 shares of the medical equipment provider’s stock valued at $169,000 after purchasing an additional 107 shares during the period. Finally, Coldstream Capital Management Inc. purchased a new stake in shares of Align Technology during the second quarter valued at $202,000. 82.89% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Emory Wright sold 5,025 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $263.68, for a total transaction of $1,324,992.00. Following the transaction, the vice president now owns 80,762 shares in the company, valued at $21,295,324.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Greg J. Santora sold 7,700 shares of the company’s 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 52,849 shares of company stock valued at $13,494,348 over the last quarter. 1.60% of the stock is currently owned by corporate insiders.
Align Technology (NASDAQ:ALGN) last announced its earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.19. The business had revenue of $385.30 million during the quarter, compared to the consensus estimate of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The firm’s revenue was up 38.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. sell-side analysts forecast that Align Technology, Inc. will post 3.65 EPS for the current fiscal year.
Several analysts recently weighed in on ALGN shares. Deutsche Bank started coverage on Align Technology in a report on Friday, December 8th. They issued a “hold” rating and a $250.00 price objective for the company. Morgan Stanley lifted their price objective on Align Technology from $257.00 to $300.00 and gave the company an “overweight” rating in a report on Monday, November 27th. Leerink Swann restated an “outperform” rating and issued a $250.00 price objective on shares of Align Technology in a report on Friday, October 27th. Zacks Investment Research upgraded Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price objective for the company in a report on Monday, October 30th. Finally, Credit Suisse Group lifted their price objective on Align Technology from $175.00 to $209.00 and gave the company an “outperform” rating in a report on Friday, October 27th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $236.75.
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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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