Guggenheim Capital LLC Sells 110,355 Shares of Align Technology, Inc. (ALGN)
Guggenheim Capital LLC trimmed its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 22.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 379,053 shares of the medical equipment provider’s stock after selling 110,355 shares during the quarter. Guggenheim Capital LLC’s holdings in Align Technology were worth $84,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. USA Mutuals Advisors Inc. bought a new stake in shares of Align Technology in the 4th quarter worth approximately $101,000. Whittier Trust Co. of Nevada Inc. grew its position in shares of Align Technology by 166.7% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 504 shares of the medical equipment provider’s stock worth $112,000 after buying an additional 315 shares during the last quarter. Cobblestone Capital Advisors LLC NY bought a new stake in shares of Align Technology in the 4th quarter worth approximately $200,000. Meritage Portfolio Management bought a new stake in shares of Align Technology in the 4th quarter worth approximately $201,000. Finally, Dai Ichi Life Insurance Company Ltd bought a new stake in shares of Align Technology in the 3rd quarter worth approximately $211,000. Institutional investors and hedge funds own 79.55% of the company’s stock.
A number of equities research analysts have recently weighed in on ALGN shares. Stifel Nicolaus lifted their price objective on Align Technology from $245.00 to $265.00 and gave the stock a “buy” rating in a research report on Tuesday, November 21st. Morgan Stanley lifted their price objective on Align Technology from $257.00 to $300.00 and gave the stock an “overweight” rating in a research report on Monday, November 27th. Credit Suisse Group reiterated an “outperform” rating and issued a $276.00 price objective (up from $261.00) on shares of Align Technology in a research report on Tuesday, November 28th. Robert W. Baird reiterated a “buy” rating and issued a $290.00 price objective on shares of Align Technology in a research report on Wednesday, November 29th. Finally, Deutsche Bank started coverage on Align Technology in a research report on Friday, December 8th. They issued a “hold” rating and a $250.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Align Technology has an average rating of “Buy” and a consensus target price of $260.79.
Shares of Align Technology, Inc. (ALGN) opened at $271.74 on Friday. Align Technology, Inc. has a 1 year low of $104.39 and a 1 year high of $287.32. The firm has a market capitalization of $21,775.88, a P/E ratio of 95.68, a P/E/G ratio of 2.07 and a beta of 1.44.
Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.23. Align Technology had a return on equity of 28.55% and a net margin of 15.71%. The company had revenue of $421.30 million for the quarter, compared to analyst estimates of $395.88 million. During the same period in the previous year, the company posted $0.59 earnings per share. The firm’s revenue was up 43.7% on a year-over-year basis. equities analysts forecast that Align Technology, Inc. will post 4.49 EPS for the current fiscal year.
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Align Technology 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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