DE Burlo Group Inc. reduced its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 41.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,400 shares of the medical equipment provider’s stock after selling 35,350 shares during the quarter. Align Technology accounts for 2.3% of DE Burlo Group Inc.’s holdings, making the stock its 15th biggest position. DE Burlo Group Inc.’s holdings in Align Technology were worth $11,198,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its position in shares of Align Technology by 2.2% in the third quarter. Bank of New York Mellon Corp now owns 1,946,097 shares of the medical equipment provider’s stock worth $362,499,000 after acquiring an additional 42,570 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Align Technology by 26.6% in the third quarter. Janus Henderson Group PLC now owns 752,014 shares of the medical equipment provider’s stock worth $140,077,000 after acquiring an additional 157,890 shares in the last quarter. Atlantic Trust Group LLC increased its position in shares of Align Technology by 4,682.8% in the third quarter. Atlantic Trust Group LLC now owns 638,935 shares of the medical equipment provider’s stock worth $119,014,000 after acquiring an additional 625,576 shares in the last quarter. American Century Companies Inc. increased its position in shares of Align Technology by 42.8% in the fourth quarter. American Century Companies Inc. now owns 391,958 shares of the medical equipment provider’s stock worth $87,089,000 after acquiring an additional 117,533 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Align Technology by 221.0% in the third quarter. Legal & General Group Plc now owns 383,295 shares of the medical equipment provider’s stock worth $71,396,000 after acquiring an additional 263,875 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Align Technology, Inc. (NASDAQ:ALGN) opened at $233.73 on Wednesday. Align Technology, Inc. has a 1 year low of $97.31 and a 1 year high of $287.32. The company has a market cap of $18,740.00, a P/E ratio of 82.59, a P/E/G ratio of 1.78 and a beta of 1.48.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Tuesday, January 30th. The medical equipment provider reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.23. The firm had revenue of $421.30 million for the quarter, compared to the consensus estimate of $395.88 million. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The firm’s revenue was up 43.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share. sell-side analysts predict that Align Technology, Inc. will post 4.49 EPS for the current fiscal year.

ALGN has been the topic of several analyst reports. Robert W. Baird reissued a “buy” rating and issued a $245.00 target price on shares of Align Technology in a research report on Friday, October 27th. Stifel Nicolaus boosted their price objective on shares of Align Technology from $205.00 to $225.00 and gave the company a “buy” rating in a research report on Monday, October 23rd. Zacks Investment Research raised shares of Align Technology from a “hold” rating to a “buy” rating and set a $227.00 price objective on the stock in a research report on Monday, October 30th. Credit Suisse Group raised shares of Align Technology to a “buy” rating and set a $276.00 price objective on the stock in a research report on Thursday, January 4th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $300.00 price objective on shares of Align Technology in a research report on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Align Technology presently has an average rating of “Buy” and an average price target of $258.54.

In other Align Technology news, CFO John Morici sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $255.00, for a total value of $382,500.00. Following the completion of the sale, the chief financial officer now directly owns 1,544 shares of the company’s stock, valued at $393,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Emory Wright sold 45,780 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $260.08, for a total transaction of $11,906,462.40. Following the completion of the sale, the vice president now directly owns 29,957 shares of the company’s stock, valued at $7,791,216.56. The disclosure for this sale can be found here. Insiders sold 82,029 shares of company stock valued at $21,369,243 over the last three months. Insiders own 1.60% of the company’s stock.

WARNING: “DE Burlo Group Inc. Reduces Position in Align Technology, Inc. (ALGN)” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international trademark and copyright law. The correct version of this article can be viewed at https://www.thecerbatgem.com/2018/02/14/de-burlo-group-inc-reduces-position-in-align-technology-inc-algn.html.

About Align Technology

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.

Want to see what other hedge funds are holding ALGN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Align Technology, Inc. (NASDAQ:ALGN).

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

Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.