Glenmede Trust Co. NA Sells 5,873 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Glenmede Trust Co. NA cut its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 31.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,063 shares of the medical equipment provider’s stock after selling 5,873 shares during the quarter. Glenmede Trust Co. NA’s holdings in Align Technology were worth $7,073,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Exchange Traded Concepts LLC raised its holdings in Align Technology by 61.3% during the first quarter. Exchange Traded Concepts LLC now owns 4,567 shares of the medical equipment provider’s stock valued at $2,473,000 after acquiring an additional 1,736 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Align Technology by 38.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 374,900 shares of the medical equipment provider’s stock worth $203,020,000 after purchasing an additional 103,291 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Align Technology by 19.7% in the first quarter. Jennison Associates LLC now owns 153,955 shares of the medical equipment provider’s stock worth $83,371,000 after purchasing an additional 25,316 shares during the last quarter. FormulaFolio Investments LLC bought a new stake in shares of Align Technology in the fourth quarter worth about $7,210,000. Finally, Victory Capital Management Inc. increased its holdings in shares of Align Technology by 23.0% in the first quarter. Victory Capital Management Inc. now owns 538,243 shares of the medical equipment provider’s stock worth $291,475,000 after purchasing an additional 100,492 shares during the last quarter. 84.13% of the stock is currently owned by institutional investors and hedge funds.

Shares of ALGN opened at $619.65 on Thursday. The stock has a market capitalization of $49.04 billion, a price-to-earnings ratio of 107.08, a PEG ratio of 2.98 and a beta of 1.69. Align Technology, Inc. has a 1-year low of $279.83 and a 1-year high of $653.86. The firm’s fifty day moving average is $602.21.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Tuesday, April 27th. The medical equipment provider reported $2.49 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.47. Align Technology had a net margin of 16.27% and a return on equity of 14.65%. The firm had revenue of $894.80 million for the quarter, compared to analyst estimates of $810.27 million. During the same period in the previous year, the company earned $0.73 earnings per share. The business’s quarterly revenue was up 62.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Align Technology, Inc. will post 8.9 earnings per share for the current fiscal year.

In other Align Technology news, SVP Emory Wright sold 5,533 shares of the company’s stock in a transaction on Friday, May 7th. The shares were sold at an average price of $595.00, for a total value of $3,292,135.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Warren S. Thaler sold 5,000 shares of the company’s stock in a transaction on Monday, May 24th. The shares were sold at an average price of $605.16, for a total transaction of $3,025,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,896 shares of company stock worth $18,146,757. 0.70% of the stock is owned by corporate insiders.

Several equities research analysts have recently issued reports on ALGN shares. Exane BNP Paribas started coverage on Align Technology in a report on Thursday, July 8th. They issued an “outperform” rating and a $790.00 target price on the stock. Berenberg Bank upgraded Align Technology from a “hold” rating to a “buy” rating and set a $683.00 price target for the company in a research report on Thursday, April 22nd. SVB Leerink lifted their price target on Align Technology from $690.00 to $770.00 and gave the stock an “outperform” rating in a research report on Thursday, April 29th. Piper Sandler lifted their price target on Align Technology from $700.00 to $735.00 and gave the stock an “overweight” rating in a research report on Thursday, April 29th. Finally, Robert W. Baird lifted their price target on Align Technology from $655.00 to $745.00 and gave the stock an “outperform” rating in a research report on Thursday, April 29th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $676.64.

Align Technology Company Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.

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

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