Align Technology, Inc. (ALGN) Shares Bought by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd increased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 24,635 shares of the medical equipment provider’s stock after buying an additional 500 shares during the period. Gulf International Bank UK Ltd’s holdings in Align Technology were worth $9,637,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Mn Services Vermogensbeheer B.V. raised its stake in Align Technology by 2.5% in the 3rd quarter. Mn Services Vermogensbeheer B.V. now owns 12,191 shares of the medical equipment provider’s stock worth $4,769,000 after purchasing an additional 300 shares in the last quarter. Virginia Retirement Systems ET AL raised its stake in Align Technology by 80.0% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 36,900 shares of the medical equipment provider’s stock worth $14,436,000 after purchasing an additional 16,400 shares in the last quarter. Nikulski Financial Inc. raised its stake in Align Technology by 32.7% in the 3rd quarter. Nikulski Financial Inc. now owns 3,221 shares of the medical equipment provider’s stock worth $712,000 after purchasing an additional 793 shares in the last quarter. Gabelli Funds LLC raised its stake in Align Technology by 30.3% in the 3rd quarter. Gabelli Funds LLC now owns 28,400 shares of the medical equipment provider’s stock worth $11,111,000 after purchasing an additional 6,600 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in Align Technology by 8.7% in the 3rd quarter. Gamco Investors INC. ET AL now owns 2,815 shares of the medical equipment provider’s stock worth $1,101,000 after purchasing an additional 225 shares in the last quarter. 78.54% of the stock is owned by institutional investors and hedge funds.

ALGN has been the subject of several analyst reports. Goldman Sachs Group initiated coverage on shares of Align Technology in a research note on Saturday, October 20th. They issued a “buy” rating and a $420.00 price objective for the company. BidaskClub cut shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 5th. Morgan Stanley lifted their price objective on shares of Align Technology from $315.00 to $320.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 9th. Zacks Investment Research cut shares of Align Technology from a “buy” rating to a “hold” rating in a research note on Friday, August 17th. Finally, ValuEngine cut shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Align Technology presently has a consensus rating of “Buy” and an average target price of $354.08.

Shares of NASDAQ:ALGN opened at $245.31 on Thursday. The company has a market capitalization of $18.35 billion, a PE ratio of 46.81, a PEG ratio of 1.99 and a beta of 2.00. Align Technology, Inc. has a 12 month low of $203.12 and a 12 month high of $398.88.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 24th. The medical equipment provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.19 by $0.05. The company had revenue of $505.30 million during the quarter, compared to analysts’ expectations of $503.14 million. Align Technology had a net margin of 16.89% and a return on equity of 34.09%. The business’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 EPS. Sell-side analysts predict that Align Technology, Inc. will post 4.89 earnings per share for the current fiscal year.

In related news, CMO Raphael Pascaud sold 10,500 shares of Align Technology stock in a transaction that occurred on Thursday, August 23rd. The shares were sold at an average price of $361.00, for a total transaction of $3,790,500.00. Following the sale, the chief marketing officer now directly owns 25,087 shares of the company’s stock, valued at approximately $9,056,407. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stuart A. Hockridge sold 2,753 shares of Align Technology stock in a transaction that occurred on Wednesday, August 15th. The shares were sold at an average price of $366.73, for a total transaction of $1,009,607.69. The disclosure for this sale can be found here. Insiders sold a total of 55,648 shares of company stock valued at $20,577,327 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

COPYRIGHT VIOLATION WARNING: This article was first published by WKRB News and is the sole property of of WKRB News. If you are reading this article on another site, it was stolen and reposted in violation of U.S. and international trademark and copyright legislation. The legal version of this article can be viewed at https://www.wkrb13.com/2018/11/08/align-technology-inc-algn-shares-bought-by-gulf-international-bank-uk-ltd.html.

Align Technology Profile

Align Technology, Inc designs, manufactures, and markets a system of clear aligner therapy, intraoral scanners, and computer-aided design and computer-aided manufacturing (CAD/CAM) digital services. The company's Clear Aligner segment offers Invisalign Full, a treatment used for a range of malocclusion; Invisalign Teen treatment that addresses orthodontic needs of teenage patients, such as compliance indicators, compensation for tooth eruption, and six free single arch replacement aligners; and Invisalign Assist treatment for anterior alignment and aesthetically-oriented cases.

Further Reading: Stock Symbols, CUSIP and Other Stock Identifiers

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.

Leave a Reply