MetLife Investment Advisors LLC Takes Position in Align Technology, Inc. (ALGN)

MetLife Investment Advisors LLC bought a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) in the 4th quarter, Holdings Channel reports. The firm bought 22,327 shares of the medical equipment provider’s stock, valued at approximately $4,961,000.

Other institutional investors also recently made changes to their positions in the company. National Pension Service lifted its position in Align Technology by 98,968.3% during the fourth quarter. National Pension Service now owns 81,236 shares of the medical equipment provider’s stock valued at $18,050,000 after purchasing an additional 81,154 shares during the last quarter. APG Asset Management N.V. lifted its holdings in shares of Align Technology by 113.1% in the 4th quarter. APG Asset Management N.V. now owns 107,400 shares of the medical equipment provider’s stock worth $19,873,000 after acquiring an additional 57,000 shares during the last quarter. HWG Holdings LP lifted its holdings in shares of Align Technology by 579.3% in the 4th quarter. HWG Holdings LP now owns 3,057 shares of the medical equipment provider’s stock worth $679,000 after acquiring an additional 2,607 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Align Technology by 1,899.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 101,435 shares of the medical equipment provider’s stock worth $18,894,000 after acquiring an additional 96,361 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of Align Technology in the 3rd quarter worth approximately $2,351,000. Institutional investors and hedge funds own 80.53% of the company’s stock.

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Shares of Align Technology stock opened at $250.92 on Friday. Align Technology, Inc. has a 1 year low of $112.21 and a 1 year high of $287.32. The company has a market cap of $20,107.47, a PE ratio of 64.34, a P/E/G ratio of 1.89 and a beta of 1.44.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Tuesday, January 30th. The medical equipment provider reported $1.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.23. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The company had revenue of $421.30 million for the quarter, compared to the consensus estimate of $395.88 million. During the same period in the prior year, the firm posted $0.59 EPS. Align Technology’s revenue for the quarter was up 43.7% on a year-over-year basis. analysts anticipate that Align Technology, Inc. will post 4.52 EPS for the current year.

A number of equities research analysts have recently weighed in on ALGN shares. Deutsche Bank started coverage on shares of Align Technology in a report on Friday, December 8th. They issued a “hold” rating and a $250.00 price objective for the company. Zacks Investment Research lowered shares of Align Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 27th. Morgan Stanley boosted their price objective on shares of Align Technology from $257.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, November 27th. Stephens lowered shares of Align Technology from an “overweight” rating to an “equal weight” rating and set a $230.00 price objective for the company. in a report on Friday, January 19th. Finally, Credit Suisse Group upgraded shares of Align Technology to a “buy” rating and set a $276.00 price objective for the company in a report on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Align Technology has an average rating of “Buy” and a consensus price target of $263.56.

In related news, insider Joseph M. Hogan bought 1,500 shares of the stock in a transaction on Tuesday, February 13th. The shares were acquired at an average price of $233.63 per share, for a total transaction of $350,445.00. Following the purchase, the insider now owns 42,984 shares of the company’s stock, valued at $10,042,351.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Emory Wright sold 45,780 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $260.08, for a total transaction of $11,906,462.40. Following the transaction, the vice president now owns 29,957 shares in the company, valued at approximately $7,791,216.56. The disclosure for this sale can be found here. 1.60% of the stock is currently owned by corporate insiders.

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About Align Technology

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

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

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