Published on January 23rd, 2023 📆 | 7423 Views ⚑0
Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by DekaBank Deutsche Girozentrale
DekaBank Deutsche Girozentrale trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Get Rating) by 20.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,733 shares of the medical equipment provider's stock after selling 4,876 shares during the period. DekaBank Deutsche Girozentrale's holdings in Align Technology were worth $3,965,000 at the end of the most recent reporting period.
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A number of other large investors also recently modified their holdings of ALGN. Castle Wealth Management LLC acquired a new position in Align Technology during the second quarter worth about $38,000. Massmutual Trust Co. FSB ADV grew its holdings in Align Technology by 27.3% during the third quarter. Massmutual Trust Co. FSB ADV now owns 224 shares of the medical equipment provider's stock worth $46,000 after acquiring an additional 48 shares during the period. Benjamin Edwards Inc. acquired a new position in Align Technology during the third quarter worth about $47,000. Sandy Spring Bank grew its holdings in Align Technology by 40.0% during the second quarter. Sandy Spring Bank now owns 224 shares of the medical equipment provider's stock worth $53,000 after acquiring an additional 64 shares during the period. Finally, Crewe Advisors LLC acquired a new position in Align Technology during the second quarter worth about $53,000. 84.90% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research analysts recently issued reports on the company. The Goldman Sachs Group lowered their target price on Align Technology from $250.00 to $165.00 and set a "sell" rating on the stock in a report on Thursday, October 27th. StockNews.com assumed coverage on Align Technology in a report on Wednesday, October 12th. They set a "hold" rating on the stock. Robert W. Baird lowered their target price on Align Technology from $310.00 to $260.00 in a report on Thursday, October 27th. Stifel Nicolaus decreased their price target on Align Technology from $325.00 to $265.00 in a research report on Thursday, October 27th. Finally, Piper Sandler increased their price target on Align Technology from $230.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $300.78.
Align Technology Trading Up 2.8 %
Shares of NASDAQ ALGN opened at $243.01 on Monday. Align Technology, Inc. has a one year low of $172.05 and a one year high of $552.00. The firm has a market capitalization of $18.98 billion, a PE ratio of 37.56, a PEG ratio of 29.94 and a beta of 1.59. The business has a 50-day moving average price of $208.11 and a two-hundred day moving average price of $228.51.
Align Technology (NASDAQ:ALGN - Get Rating) last announced its quarterly earnings data on Wednesday, October 26th. The medical equipment provider reported $0.98 EPS for the quarter, missing analysts' consensus estimates of $1.93 by ($0.95). Align Technology had a return on equity of 14.39% and a net margin of 13.22%. The business had revenue of $890.35 million for the quarter, compared to analyst estimates of $973.00 million. During the same quarter in the previous year, the business posted $2.28 earnings per share. The company's revenue was down 12.4% compared to the same quarter last year. Research analysts anticipate that Align Technology, Inc. will post 5.8 EPS for the current year.
Insiders Place Their Bets
In other Align Technology news, Director Warren S. Thaler acquired 1,050 shares of the firm's stock in a transaction on Wednesday, November 2nd. The stock was purchased at an average cost of $191.21 per share, for a total transaction of $200,770.50. Following the transaction, the director now owns 30,666 shares of the company's stock, valued at approximately $5,863,645.86. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Joseph M. Hogan purchased 10,600 shares of Align Technology stock in a transaction dated Wednesday, November 2nd. The stock was acquired at an average cost of $188.58 per share, for a total transaction of $1,998,948.00. Following the acquisition, the chief executive officer now directly owns 185,401 shares in the company, valued at $34,962,920.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Warren S. Thaler purchased 1,050 shares of Align Technology stock in a transaction dated Wednesday, November 2nd. The shares were purchased at an average price of $191.21 per share, with a total value of $200,770.50. Following the completion of the acquisition, the director now owns 30,666 shares in the company, valued at $5,863,645.86. The disclosure for this purchase can be found here. Corporate insiders own 0.64% of the company's stock.
About Align Technology
Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.
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