National Asset Management Inc. increased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 54.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,771 shares of the medical equipment provider’s stock after purchasing an additional 1,685 shares during the period. National Asset Management Inc.’s holdings in Align Technology were worth $890,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in ALGN. Schroder Investment Management Group purchased a new position in Align Technology in the 2nd quarter valued at about $104,000. Whittier Trust Co. purchased a new position in Align Technology in the 3rd quarter valued at about $107,000. Bronfman E.L. Rothschild L.P. boosted its position in Align Technology by 13.0% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 912 shares of the medical equipment provider’s stock valued at $137,000 after buying an additional 105 shares during the last quarter. BlueMountain Capital Management LLC purchased a new position in Align Technology in the 2nd quarter valued at about $148,000. Finally, Commonwealth Bank of Australia boosted its position in Align Technology by 10.5% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,129 shares of the medical equipment provider’s stock valued at $169,000 after buying an additional 107 shares during the last quarter. 83.91% of the stock is owned by hedge funds and other institutional investors.

ALGN has been the topic of several research analyst reports. Zacks Investment Research cut shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 21st. Stifel Nicolaus reaffirmed a “buy” rating and set a $225.00 price target (up previously from $205.00) on shares of Align Technology in a research report on Thursday, October 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $220.00 price target (up previously from $195.00) on shares of Align Technology in a research report on Friday, October 6th. Northcoast Research reaffirmed a “buy” rating and set a $230.00 price target (up previously from $200.00) on shares of Align Technology in a research report on Tuesday, October 10th. Finally, Credit Suisse Group reaffirmed a “positive” rating and set a $261.00 price target (up previously from $209.00) on shares of Align Technology in a research report on Thursday, November 9th. Eleven investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus price target of $235.55.

In related news, Director Joseph Lacob sold 29,724 shares of the stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $260.91, for a total transaction of $7,755,288.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO John Morici sold 1,500 shares of the stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $255.00, for a total transaction of $382,500.00. Following the sale, the chief financial officer now owns 1,544 shares in the company, valued at approximately $393,720. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,849 shares of company stock worth $13,494,348. 1.60% of the stock is owned by company insiders.

Align Technology, Inc. (ALGN) opened at $225.80 on Tuesday. Align Technology, Inc. has a 12-month low of $88.56 and a 12-month high of $266.41. The company has a market cap of $18,100.00, a PE ratio of 75.17, a PEG ratio of 2.43 and a beta of 1.43.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Thursday, October 26th. The medical equipment provider reported $1.01 EPS for the quarter, topping the consensus estimate of $0.82 by $0.19. The business had revenue of $385.30 million for the quarter, compared to analysts’ expectations of $359.80 million. Align Technology had a net margin of 19.98% and a return on equity of 25.60%. The company’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 earnings per share. sell-side analysts predict that Align Technology, Inc. will post 3.62 earnings per share for the current fiscal year.

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Align Technology Company Profile

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

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