BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Buys 6,107 Shares of Align Technology, Inc. (ALGN)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 17.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,217 shares of the medical equipment provider’s stock after purchasing an additional 6,107 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.05% of Align Technology worth $7,491,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ALGN. Janney Montgomery Scott LLC boosted its position in Align Technology by 3.8% during the second quarter. Janney Montgomery Scott LLC now owns 3,051 shares of the medical equipment provider’s stock valued at $458,000 after acquiring an additional 112 shares during the last quarter. TD Asset Management Inc. boosted its position in Align Technology by 54.1% during the second quarter. TD Asset Management Inc. now owns 50,666 shares of the medical equipment provider’s stock valued at $7,606,000 after acquiring an additional 17,789 shares during the last quarter. Global X Management Co. LLC boosted its position in Align Technology by 540.3% during the second quarter. Global X Management Co. LLC now owns 1,191 shares of the medical equipment provider’s stock valued at $179,000 after acquiring an additional 1,005 shares during the last quarter. New Mexico Educational Retirement Board bought a new stake in Align Technology during the second quarter valued at $1,171,000. Finally, Trexquant Investment LP bought a new stake in Align Technology during the second quarter valued at $435,000. Institutional investors and hedge funds own 84.04% of the company’s stock.

In related news, CMO Raphael Pascaud sold 5,400 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $241.88, for a total value of $1,306,152.00. Following the transaction, the chief marketing officer now owns 22,228 shares of the company’s stock, valued at approximately $5,376,508.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Julie Tay sold 3,500 shares of the firm’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $253.00, for a total transaction of $885,500.00. Following the completion of the transaction, the vice president now directly owns 12,213 shares in the company, valued at approximately $3,089,889. The disclosure for this sale can be found here. Insiders have sold a total of 52,849 shares of company stock worth $13,494,348 in the last three months. Insiders own 1.60% of the company’s stock.

A number of analysts have commented on ALGN shares. Robert W. Baird reaffirmed a “buy” rating and set a $245.00 price target on shares of Align Technology in a research report on Friday, October 27th. Leerink Swann reaffirmed an “outperform” rating and set a $250.00 price target on shares of Align Technology in a research report on Friday, October 27th. Credit Suisse Group reaffirmed an “outperform” rating and set a $276.00 price target (up previously from $261.00) on shares of Align Technology in a research report on Tuesday, November 28th. Deutsche Bank started coverage on shares of Align Technology in a research report on Friday. They set a “hold” rating and a $250.00 price target on the stock. Finally, Stifel Nicolaus upped their price target on shares of Align Technology from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 23rd. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $236.75.

Align Technology, Inc. (NASDAQ:ALGN) opened at $233.66 on Tuesday. The stock has a market cap of $19,116.77, a PE ratio of 70.54, a PEG ratio of 2.28 and a beta of 1.43. Align Technology, Inc. has a 1 year low of $88.56 and a 1 year high of $266.41.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Thursday, October 26th. The medical equipment provider reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.19. The company had revenue of $385.30 million for the quarter, compared to analysts’ expectations of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The business’s revenue was up 38.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. equities analysts anticipate that Align Technology, Inc. will post 3.62 earnings per share for the current year.

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Align Technology 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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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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