Citizens Financial Group Inc RI trimmed its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 47.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,657 shares of the medical equipment provider’s stock after selling 44,021 shares during the quarter. Citizens Financial Group Inc RI owned approximately 0.06% of Align Technology worth $7,454,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in Align Technology by 36.7% during the 1st quarter. AQR Capital Management LLC now owns 94,715 shares of the medical equipment provider’s stock valued at $10,865,000 after acquiring an additional 25,422 shares during the last quarter. Stifel Financial Corp boosted its stake in Align Technology by 11.6% during the 1st quarter. Stifel Financial Corp now owns 75,393 shares of the medical equipment provider’s stock valued at $8,643,000 after acquiring an additional 7,834 shares during the last quarter. Karp Capital Management Corp bought a new position in Align Technology during the 1st quarter valued at $2,620,000. American Century Companies Inc. boosted its stake in Align Technology by 2,236.0% during the 2nd quarter. American Century Companies Inc. now owns 221,009 shares of the medical equipment provider’s stock valued at $33,178,000 after acquiring an additional 211,548 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. bought a new position in Align Technology during the 2nd quarter valued at $9,854,000. Hedge funds and other institutional investors own 81.72% of the company’s stock.
A number of research analysts have commented on ALGN shares. Zacks Investment Research downgraded shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 21st. Morgan Stanley reissued an “overweight” rating and set a $175.00 target price on shares of Align Technology in a report on Monday, June 19th. They noted that the move was a valuation call. Leerink Swann increased their target price on shares of Align Technology from $149.00 to $194.00 and gave the stock an “outperform” rating in a report on Monday, June 26th. Bank of America Corporation raised shares of Align Technology from a “neutral” rating to a “buy” rating and increased their target price for the stock from $175.00 to $193.00 in a report on Friday, July 28th. Finally, Northcoast Research reissued a “buy” rating and set a $186.00 target price (up from $164.00) on shares of Align Technology in a report on Wednesday, June 21st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $176.80.
Shares of Align Technology, Inc. (ALGN) traded down 0.6298% during mid-day trading on Tuesday, hitting $182.9605. 131,846 shares of the company’s stock were exchanged. Align Technology, Inc. has a 52 week low of $83.27 and a 52 week high of $184.84. The company has a market capitalization of $14.66 billion, a price-to-earnings ratio of 62.6577 and a beta of 1.55. The firm has a 50 day moving average price of $171.93 and a 200-day moving average price of $141.36.
Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.12. Align Technology had a net margin of 19.18% and a return on equity of 23.87%. The firm had revenue of $356.50 million for the quarter, compared to the consensus estimate of $343.43 million. During the same quarter in the previous year, the company earned $0.62 earnings per share. The business’s revenue was up 32.3% compared to the same quarter last year. On average, equities analysts anticipate that Align Technology, Inc. will post $3.40 EPS for the current year.
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About Align Technology
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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