Eagle Asset Management Inc. lowered its stake in Align Technology Inc. (NASDAQ:ALGN) by 13.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,420 shares of the company’s stock after selling 27,175 shares during the period. Eagle Asset Management Inc. owned approximately 0.22% of Align Technology worth $14,452,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Driehaus Capital Management LLC acquired a new stake in shares of Align Technology during the fourth quarter valued at about $3,325,000. Capstone Investment Advisors LLC increased its stake in shares of Align Technology by 230.3% in the fourth quarter. Capstone Investment Advisors LLC now owns 19,815 shares of the company’s stock valued at $1,304,000 after buying an additional 13,815 shares during the period. Lord Abbett & CO. LLC increased its stake in shares of Align Technology by 45.1% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,238,227 shares of the company’s stock valued at $81,537,000 after buying an additional 385,111 shares during the period. EverPoint Asset Management LLC increased its stake in shares of Align Technology by 33.3% in the fourth quarter. EverPoint Asset Management LLC now owns 300,000 shares of the company’s stock valued at $19,755,000 after buying an additional 75,000 shares during the period. Finally, William Blair Investment Management LLC increased its stake in shares of Align Technology by 9.0% in the fourth quarter. William Blair Investment Management LLC now owns 4,026,364 shares of the company’s stock valued at $265,136,000 after buying an additional 333,469 shares during the period.
Align Technology Inc. (NASDAQ:ALGN) traded up 2.15% during trading on Friday, reaching $95.78. 869,915 shares of the company’s stock were exchanged. The stock has a market capitalization of $7.67 billion and a price-to-earnings ratio of 46.72. The company’s 50 day moving average price is $90.41 and its 200-day moving average price is $78.51. Align Technology Inc. has a 52 week low of $54.34 and a 52 week high of $96.13.
Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.14. The business earned $269.40 million during the quarter, compared to analyst estimates of $259.29 million. The business’s revenue for the quarter was up 28.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 EPS. On average, equities analysts expect that Align Technology Inc. will post $2.27 EPS for the current year.
Several analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Align Technology from $82.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Zacks Investment Research raised shares of Align Technology from a “hold” rating to a “strong-buy” rating and set a $97.00 price target on the stock in a report on Wednesday, July 13th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Align Technology in a report on Saturday, June 4th. Robert W. Baird reissued a “buy” rating on shares of Align Technology in a research note on Saturday, June 4th. Finally, Leerink Swann reissued a “buy” rating on shares of Align Technology in a research note on Saturday, June 4th. Eleven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $83.09.
In other Align Technology news, VP Zelko Relic sold 13,577 shares of Align Technology stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $95.91, for a total value of $1,302,170.07. Following the completion of the sale, the vice president now directly owns 1,375 shares in the company, valued at $131,876.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Julie Tay sold 3,000 shares of Align Technology stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $92.60, for a total transaction of $277,800.00. Following the completion of the sale, the vice president now owns 3,104 shares of the company’s stock, valued at $287,430.40. The disclosure for this sale can be found here.
Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design and 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.