Disciplined Growth Investors Inc. MN decreased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 8.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 993,617 shares of the medical equipment provider’s stock after selling 95,751 shares during the period. Align Technology accounts for 4.4% of Disciplined Growth Investors Inc. MN’s portfolio, making the stock its 2nd largest position. Disciplined Growth Investors Inc. MN owned about 1.24% of Align Technology worth $220,772,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the stock. USA Mutuals Advisors Inc. acquired a new stake in shares of Align Technology in the fourth quarter worth $101,000. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Align Technology by 166.7% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the medical equipment provider’s stock valued at $112,000 after purchasing an additional 315 shares during the period. Cobblestone Capital Advisors LLC NY purchased a new position in shares of Align Technology in the fourth quarter valued at $200,000. Meritage Portfolio Management purchased a new position in shares of Align Technology in the fourth quarter valued at $201,000. Finally, Dai Ichi Life Insurance Company Ltd purchased a new position in shares of Align Technology in the third quarter valued at $211,000. 80.53% of the stock is owned by hedge funds and other institutional investors.
ALGN has been the subject of several analyst reports. Stifel Nicolaus upped their target price on shares of Align Technology from $265.00 to $295.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Morgan Stanley upped their target price on shares of Align Technology from $257.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, November 27th. Credit Suisse Group upgraded shares of Align Technology to a “buy” rating and set a $276.00 target price for the company in a research note on Thursday, January 4th. Zacks Investment Research downgraded shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, Stephens downgraded shares of Align Technology from an “overweight” rating to an “equal weight” rating and set a $230.00 target price for the company. in a research note on Friday, January 19th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Align Technology has a consensus rating of “Buy” and a consensus target price of $263.56.
Align Technology, Inc. (NASDAQ ALGN) opened at $265.39 on Tuesday. Align Technology, Inc. has a 52 week low of $110.25 and a 52 week high of $287.32. The company has a market cap of $21,669.37, a price-to-earnings ratio of 69.34, a price-to-earnings-growth ratio of 2.04 and a beta of 1.44.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Tuesday, January 30th. The medical equipment provider reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.23. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The firm had revenue of $421.30 million for the quarter, compared to the consensus estimate of $395.88 million. During the same period in the prior year, the firm posted $0.59 EPS. The firm’s revenue was up 43.7% compared to the same quarter last year. sell-side analysts expect that Align Technology, Inc. will post 4.52 EPS 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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