Align Technology, Inc. (ALGN) Shares Sold by American Century Companies Inc.

American Century Companies Inc. reduced its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 11.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,984 shares of the medical equipment provider’s stock after selling 36,313 shares during the quarter. American Century Companies Inc. owned about 0.36% of Align Technology worth $113,056,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in ALGN. Sigma Planning Corp grew its holdings in shares of Align Technology by 9.8% in the second quarter. Sigma Planning Corp now owns 1,527 shares of the medical equipment provider’s stock valued at $522,000 after purchasing an additional 136 shares in the last quarter. Lido Advisors LLC grew its holdings in shares of Align Technology by 15.9% in the second quarter. Lido Advisors LLC now owns 1,091 shares of the medical equipment provider’s stock valued at $373,000 after purchasing an additional 150 shares in the last quarter. Brighton Jones LLC grew its holdings in shares of Align Technology by 5.5% in the second quarter. Brighton Jones LLC now owns 2,898 shares of the medical equipment provider’s stock valued at $992,000 after purchasing an additional 151 shares in the last quarter. HL Financial Services LLC grew its holdings in shares of Align Technology by 8.0% in the second quarter. HL Financial Services LLC now owns 2,137 shares of the medical equipment provider’s stock valued at $731,000 after purchasing an additional 158 shares in the last quarter. Finally, Boston Family Office LLC grew its holdings in shares of Align Technology by 6.7% in the second quarter. Boston Family Office LLC now owns 2,565 shares of the medical equipment provider’s stock valued at $878,000 after purchasing an additional 160 shares in the last quarter. 78.54% of the stock is owned by institutional investors and hedge funds.

A number of research analysts recently weighed in on ALGN shares. Morgan Stanley raised their target price on shares of Align Technology from $315.00 to $320.00 and gave the company an “equal weight” rating in a report on Tuesday, October 9th. Zacks Investment Research lowered shares of Align Technology from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. Goldman Sachs Group started coverage on shares of Align Technology in a report on Saturday, October 20th. They issued a “buy” rating and a $420.00 target price for the company. Piper Jaffray Companies raised their target price on shares of Align Technology to $425.00 and gave the company an “overweight” rating in a report on Friday, July 20th. Finally, BidaskClub raised shares of Align Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, August 28th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Align Technology presently has an average rating of “Buy” and an average target price of $354.08.

In related news, SVP Simon Beard sold 3,895 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $384.48, for a total value of $1,497,549.60. Following the completion of the sale, the senior vice president now directly owns 3,577 shares in the company, valued at $1,375,284.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $382.00, for a total value of $3,820,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,648 shares of company stock valued at $20,577,327. 1.40% of the stock is owned by corporate insiders.

Shares of ALGN opened at $235.96 on Friday. The firm has a market capitalization of $19.62 billion, a P/E ratio of 60.66, a P/E/G ratio of 2.13 and a beta of 2.00. Align Technology, Inc. has a 52-week low of $203.12 and a 52-week high of $398.88.

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

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About Align Technology

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.

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

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