E. Ohman J or Asset Management AB Has $738,000 Stake in Align Technology, Inc. (NASDAQ:ALGN)

E. Ohman J or Asset Management AB trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 17.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,900 shares of the medical equipment provider’s stock after selling 600 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Align Technology were worth $738,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its position in shares of Align Technology by 12.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,294 shares of the medical equipment provider’s stock valued at $2,064,000 after purchasing an additional 697 shares during the last quarter. SteelPeak Wealth LLC acquired a new stake in shares of Align Technology in the first quarter valued at about $306,000. Azzad Asset Management Inc. ADV grew its position in shares of Align Technology by 9.2% in the first quarter. Azzad Asset Management Inc. ADV now owns 13,622 shares of the medical equipment provider’s stock valued at $4,467,000 after purchasing an additional 1,149 shares during the last quarter. Norden Group LLC grew its position in shares of Align Technology by 3,647.7% in the first quarter. Norden Group LLC now owns 36,540 shares of the medical equipment provider’s stock valued at $11,982,000 after purchasing an additional 35,565 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its position in shares of Align Technology by 43.4% in the first quarter. First Trust Direct Indexing L.P. now owns 2,010 shares of the medical equipment provider’s stock valued at $659,000 after purchasing an additional 608 shares during the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director C Raymond Larkin, Jr. bought 6,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the purchase, the director now owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.62% of the stock is currently owned by corporate insiders.

Align Technology Stock Up 1.3 %

Shares of ALGN opened at $219.30 on Friday. The stock has a market cap of $16.51 billion, a price-to-earnings ratio of 36.13, a P/E/G ratio of 5.33 and a beta of 1.64. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $335.40. The company has a 50-day moving average price of $233.41 and a two-hundred day moving average price of $250.02.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The firm had revenue of $977.87 million during the quarter, compared to analysts’ expectations of $990.05 million. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.62 earnings per share. Equities research analysts expect that Align Technology, Inc. will post 7.61 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Evercore ISI reduced their target price on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday. Stifel Nicolaus reduced their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday. Morgan Stanley reduced their target price on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Robert W. Baird reduced their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $276.38.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.