Citigroup Inc. Acquires 27,238 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Citigroup Inc. boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGNGet Rating) by 44.9% during the 4th quarter, Holdings Channel reports. The fund owned 87,947 shares of the medical equipment provider’s stock after buying an additional 27,238 shares during the period. Citigroup Inc.’s holdings in Align Technology were worth $57,798,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Wellington Management Group LLP grew its holdings in Align Technology by 13.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,143,276 shares of the medical equipment provider’s stock worth $1,426,200,000 after acquiring an additional 255,913 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Align Technology by 43.2% during the 3rd quarter. Janus Henderson Group PLC now owns 2,093,753 shares of the medical equipment provider’s stock worth $1,393,258,000 after acquiring an additional 631,630 shares in the last quarter. Polen Capital Management LLC grew its holdings in Align Technology by 1.3% during the 3rd quarter. Polen Capital Management LLC now owns 1,656,405 shares of the medical equipment provider’s stock worth $1,102,222,000 after acquiring an additional 21,800 shares in the last quarter. Jennison Associates LLC grew its holdings in Align Technology by 13.5% during the 4th quarter. Jennison Associates LLC now owns 1,208,650 shares of the medical equipment provider’s stock worth $794,301,000 after acquiring an additional 143,650 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Align Technology by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,195,872 shares of the medical equipment provider’s stock worth $793,443,000 after acquiring an additional 37,925 shares in the last quarter. Institutional investors own 88.17% of the company’s stock.

Several analysts have commented on ALGN shares. Credit Suisse Group decreased their price target on shares of Align Technology from $722.00 to $418.00 in a research report on Wednesday, May 4th. Piper Sandler decreased their price target on shares of Align Technology from $600.00 to $440.00 in a research report on Thursday, April 28th. UBS Group decreased their price target on shares of Align Technology from $620.00 to $500.00 and set a “buy” rating for the company in a research report on Tuesday, April 26th. Robert W. Baird decreased their price target on shares of Align Technology from $625.00 to $510.00 and set an “outperform” rating for the company in a research report on Thursday, April 28th. Finally, TheStreet lowered shares of Align Technology from a “b-” rating to a “c+” rating in a research report on Monday, April 25th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $578.27.

In other news, CEO Joseph M. Hogan acquired 6,700 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were acquired at an average price of $298.48 per share, with a total value of $1,999,816.00. Following the purchase, the chief executive officer now directly owns 174,801 shares of the company’s stock, valued at $52,174,602.48. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director C Raymond Larkin, Jr. acquired 1,000 shares of the company’s stock in a transaction dated Friday, May 13th. The shares were purchased at an average cost of $264.42 per share, for a total transaction of $264,420.00. Following the purchase, the director now directly owns 18,190 shares in the company, valued at $4,809,799.80. The disclosure for this purchase can be found here. Company insiders own 0.64% of the company’s stock.

Shares of Align Technology stock opened at $275.52 on Friday. Align Technology, Inc. has a 52 week low of $250.64 and a 52 week high of $737.45. The firm has a market capitalization of $21.71 billion, a P/E ratio of 30.99, a PEG ratio of 4.09 and a beta of 1.76. The company has a 50 day moving average price of $385.49 and a 200 day moving average price of $514.62.

Align Technology (NASDAQ:ALGNGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The medical equipment provider reported $1.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.29). Align Technology had a return on equity of 19.90% and a net margin of 17.51%. The business had revenue of $973.22 million for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the prior year, the business posted $2.51 earnings per share. As a group, analysts anticipate that Align Technology, Inc. will post 8.65 EPS for the current year.

About Align Technology (Get Rating)

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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