Align Technology, Inc. (ALGN) Stake Lessened by Schroder Investment Management Group

Schroder Investment Management Group cut its stake in Align Technology, Inc. (NASDAQ:ALGN) by 39.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,326 shares of the medical equipment provider’s stock after selling 6,686 shares during the period. Schroder Investment Management Group’s holdings in Align Technology were worth $4,040,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Winslow Capital Management LLC boosted its holdings in Align Technology by 30.2% during the third quarter. Winslow Capital Management LLC now owns 564,651 shares of the medical equipment provider’s stock worth $220,903,000 after buying an additional 130,982 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in Align Technology by 17.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 17,328 shares of the medical equipment provider’s stock worth $6,849,000 after buying an additional 2,531 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Align Technology by 138.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,821 shares of the medical equipment provider’s stock worth $15,188,000 after buying an additional 22,540 shares in the last quarter. Ontario Teachers Pension Plan Board boosted its holdings in Align Technology by 4.4% during the third quarter. Ontario Teachers Pension Plan Board now owns 16,791 shares of the medical equipment provider’s stock worth $6,569,000 after buying an additional 712 shares in the last quarter. Finally, Bank of Hawaii boosted its holdings in Align Technology by 160.1% during the third quarter. Bank of Hawaii now owns 2,328 shares of the medical equipment provider’s stock worth $911,000 after buying an additional 1,433 shares in the last quarter. Institutional investors and hedge funds own 78.03% of the company’s stock.

In other Align Technology news, VP Christopher C. Puco sold 8,764 shares of the stock in a transaction that occurred on Friday, November 30th. The shares were sold at an average price of $227.42, for a total value of $1,993,108.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Lacob sold 10,000 shares of the stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $231.82, for a total transaction of $2,318,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,764 shares of company stock valued at $5,427,059. Insiders own 1.40% of the company’s stock.

ALGN stock opened at $210.28 on Friday. Align Technology, Inc. has a 12-month low of $188.57 and a 12-month high of $398.88. The company has a market capitalization of $17.54 billion, a price-to-earnings ratio of 54.06, a P/E/G ratio of 1.91 and a beta of 2.05.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, October 24th. The medical equipment provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.05. Align Technology had a net margin of 16.89% and a return on equity of 34.09%. The company had revenue of $505.30 million during the quarter, compared to the consensus estimate of $503.14 million. During the same quarter in the prior year, the firm earned $1.01 EPS. The company’s revenue was up 31.1% compared to the same quarter last year. As a group, equities analysts expect that Align Technology, Inc. will post 4.87 earnings per share for the current year.

ALGN has been the subject of several research analyst reports. Goldman Sachs Group initiated coverage on shares of Align Technology in a research report on Saturday, October 20th. They issued a “buy” rating and a $420.00 price target for the company. BidaskClub downgraded shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research report on Friday, October 5th. 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 report on Tuesday, October 9th. William Blair restated an “outperform” rating on shares of Align Technology in a research report on Monday, November 19th. Finally, Credit Suisse Group reduced their price target on shares of Align Technology from $391.00 to $375.00 and set an “outperform” rating for the company in a research report on Thursday, October 25th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $352.20.

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Align Technology 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.

Read More: Debt-To-Equity Ratio

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

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