Align Technology, Inc. (ALGN) Position Lowered by Boston Family Office LLC

Boston Family Office LLC lessened its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 9.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,310 shares of the medical equipment provider’s stock after selling 255 shares during the quarter. Boston Family Office LLC’s holdings in Align Technology were worth $904,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Stelac Advisory Services LLC acquired a new position in Align Technology during the 2nd quarter valued at approximately $103,000. Polaris Greystone Financial Group LLC acquired a new position in Align Technology during the 3rd quarter valued at approximately $117,000. Centaurus Financial Inc. acquired a new position in Align Technology during the 2nd quarter valued at approximately $137,000. TRUE Private Wealth Advisors acquired a new position in Align Technology during the 3rd quarter valued at approximately $198,000. Finally, Breiter Capital Management Inc. acquired a new position in Align Technology during the 3rd quarter valued at approximately $219,000. Hedge funds and other institutional investors own 78.54% of the company’s stock.

In related news, SVP Simon Beard sold 3,895 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $384.48, for a total transaction of $1,497,549.60. Following the sale, the senior vice president now directly owns 3,577 shares of the company’s stock, valued at $1,375,284.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Lacob sold 10,000 shares of the stock in a transaction on Monday, August 27th. The stock was sold at an average price of $382.00, for a total transaction of $3,820,000.00. The disclosure for this sale can be found here. Insiders have sold 55,648 shares of company stock worth $20,577,327 over the last three months. 1.40% of the stock is currently owned by insiders.

ALGN has been the topic of a number of recent analyst reports. Morgan Stanley upped their price target on shares of Align Technology from $315.00 to $320.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 9th. Zacks Investment Research lowered shares of Align Technology from a “hold” rating to a “sell” rating in a research note on Monday, October 22nd. Goldman Sachs Group initiated coverage on shares of Align Technology in a research note on Saturday, October 20th. They set a “buy” rating and a $420.00 price target on the stock. Piper Jaffray Companies upped their price target on shares of Align Technology to $425.00 and gave the company an “overweight” rating in a research note on Friday, July 20th. Finally, BidaskClub upgraded shares of Align Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $354.08.

ALGN stock opened at $229.75 on Friday. The firm has a market capitalization of $18.45 billion, a PE ratio of 59.06, a price-to-earnings-growth ratio of 1.99 and a beta of 2.00. Align Technology, Inc. has a 12 month low of $203.12 and a 12 month high of $398.88.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 24th. The medical equipment provider reported $1.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.05. Align Technology had a net margin of 16.89% and a return on equity of 34.09%. The firm had revenue of $505.30 million for the quarter, compared to the consensus estimate of $503.14 million. During the same period in the prior year, the firm posted $1.01 earnings per share. The firm’s quarterly revenue was up 31.1% compared to the same quarter last year. As a group, sell-side analysts predict that Align Technology, Inc. will post 4.89 earnings per share for the current fiscal year.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.

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

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