Banco Santander S.A. Decreases Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Banco Santander S.A. reduced its position in Align Technology, Inc. (NASDAQ:ALGNGet Rating) by 2.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,782 shares of the medical equipment provider’s stock after selling 257 shares during the quarter. Banco Santander S.A.’s holdings in Align Technology were worth $4,265,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ALGN. Norges Bank purchased a new stake in Align Technology in the fourth quarter worth $486,244,000. Alliancebernstein L.P. grew its position in shares of Align Technology by 38.8% in the fourth quarter. Alliancebernstein L.P. now owns 2,425,299 shares of the medical equipment provider’s stock valued at $1,593,858,000 after purchasing an additional 678,453 shares in the last quarter. Brown Advisory Inc. grew its position in shares of Align Technology by 3,884.2% in the first quarter. Brown Advisory Inc. now owns 474,245 shares of the medical equipment provider’s stock valued at $206,771,000 after purchasing an additional 462,342 shares in the last quarter. Capital World Investors grew its position in shares of Align Technology by 887.5% in the fourth quarter. Capital World Investors now owns 361,743 shares of the medical equipment provider’s stock valued at $237,730,000 after purchasing an additional 325,112 shares in the last quarter. Finally, Third Point LLC purchased a new position in shares of Align Technology in the fourth quarter valued at $197,154,000. 88.17% of the stock is owned by hedge funds and other institutional investors.

Align Technology Stock Up 0.1 %

ALGN opened at $293.89 on Friday. The firm has a 50-day simple moving average of $259.51 and a two-hundred day simple moving average of $359.91. Align Technology, Inc. has a 52 week low of $225.86 and a 52 week high of $737.45. The company has a market capitalization of $23.16 billion, a PE ratio of 37.58, a price-to-earnings-growth ratio of 8.34 and a beta of 1.78.

Align Technology (NASDAQ:ALGNGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The medical equipment provider reported $2.00 EPS for the quarter, missing the consensus estimate of $2.23 by ($0.23). Align Technology had a net margin of 15.52% and a return on equity of 17.47%. The company had revenue of $969.60 million for the quarter, compared to the consensus estimate of $986.05 million. During the same period last year, the company earned $2.51 EPS. The firm’s revenue for the quarter was down 3.0% on a year-over-year basis. As a group, sell-side analysts expect that Align Technology, Inc. will post 8.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ALGN has been the subject of several research analyst reports. Morgan Stanley dropped their price objective on Align Technology from $438.00 to $402.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Stifel Nicolaus decreased their price objective on Align Technology from $425.00 to $375.00 and set a “buy” rating on the stock in a report on Thursday, July 14th. Piper Sandler decreased their price objective on Align Technology from $440.00 to $370.00 and set an “overweight” rating on the stock in a report on Friday, July 22nd. Credit Suisse Group reduced their price target on Align Technology from $722.00 to $418.00 in a report on Wednesday, May 4th. Finally, TheStreet downgraded Align Technology from a “b-” rating to a “c+” rating in a report on Monday, April 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $361.67.

Insider Activity at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. purchased 1,000 shares of the stock in a transaction that occurred on Friday, May 13th. The stock was purchased at an average price of $264.42 per share, with a total value of $264,420.00. Following the acquisition, the director now owns 18,190 shares in the company, valued at $4,809,799.80. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.64% of the stock is owned by insiders.

About Align Technology

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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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