Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Bleakley Financial Group LLC

Bleakley Financial Group LLC lessened its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 35.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 889 shares of the medical equipment provider’s stock after selling 491 shares during the period. Bleakley Financial Group LLC’s holdings in Align Technology were worth $244,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALGN. Vanguard Group Inc. grew its position in shares of Align Technology by 1.3% in the first quarter. Vanguard Group Inc. now owns 5,946,834 shares of the medical equipment provider’s stock valued at $2,592,819,000 after purchasing an additional 75,255 shares during the period. Geode Capital Management LLC grew its position in shares of Align Technology by 2.2% in the first quarter. Geode Capital Management LLC now owns 1,583,410 shares of the medical equipment provider’s stock valued at $527,928,000 after purchasing an additional 34,131 shares during the period. Bank of New York Mellon Corp grew its position in shares of Align Technology by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 1,228,875 shares of the medical equipment provider’s stock valued at $375,200,000 after purchasing an additional 29,497 shares during the period. Alliancebernstein L.P. grew its position in shares of Align Technology by 2.1% in the second quarter. Alliancebernstein L.P. now owns 1,147,330 shares of the medical equipment provider’s stock valued at $405,742,000 after purchasing an additional 24,139 shares during the period. Finally, Morgan Stanley grew its position in shares of Align Technology by 14.0% in the fourth quarter. Morgan Stanley now owns 1,064,281 shares of the medical equipment provider’s stock valued at $224,457,000 after purchasing an additional 131,006 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analysts Set New Price Targets

ALGN has been the topic of several research analyst reports. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. Stifel Nicolaus lifted their target price on shares of Align Technology from $340.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, March 15th. UBS Group lifted their target price on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday. The Goldman Sachs Group boosted their price target on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. Finally, SVB Leerink initiated coverage on shares of Align Technology in a research report on Monday, February 26th. They set a “market perform” rating and a $310.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Align Technology currently has an average rating of “Moderate Buy” and a consensus price target of $339.91.

Insiders Place Their Bets

In other Align Technology news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares of the company’s stock, valued at $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the sale, the director now directly owns 146,994 shares in the company, valued at $46,010,591.94. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock valued at $8,403,924 over the last ninety days. Company insiders own 0.72% of the company’s stock.

Align Technology Price Performance

Shares of ALGN stock opened at $304.74 on Tuesday. The firm’s 50-day moving average is $311.97 and its two-hundred day moving average is $269.75. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $413.20. The company has a market capitalization of $22.93 billion, a PE ratio of 52.36, a price-to-earnings-growth ratio of 5.67 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The company had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. Sell-side analysts forecast that Align Technology, Inc. will post 7.65 EPS for the current year.

Align Technology Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.