Private Advisor Group LLC Decreases Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Private Advisor Group LLC decreased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 8.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,230 shares of the medical equipment provider’s stock after selling 110 shares during the period. Private Advisor Group LLC’s holdings in Align Technology were worth $313,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. grew its stake in shares of Align Technology by 3.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider’s stock valued at $2,495,000 after buying an additional 339 shares during the period. Tidal Investments LLC increased its holdings in Align Technology by 122.9% in the 1st quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock valued at $1,445,000 after purchasing an additional 2,430 shares during the last quarter. Swedbank AB raised its position in Align Technology by 2.0% in the second quarter. Swedbank AB now owns 299,115 shares of the medical equipment provider’s stock valued at $72,215,000 after purchasing an additional 6,005 shares during the period. Cetera Investment Advisers raised its position in Align Technology by 914.2% in the first quarter. Cetera Investment Advisers now owns 12,627 shares of the medical equipment provider’s stock valued at $4,140,000 after purchasing an additional 11,382 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in Align Technology by 68.0% during the first quarter. Russell Investments Group Ltd. now owns 81,250 shares of the medical equipment provider’s stock worth $26,644,000 after purchasing an additional 32,890 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ALGN shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Monday. Stifel Nicolaus reduced their price target on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Morgan Stanley dropped their price objective on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Finally, Evercore ISI dropped their price target 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, October 24th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $276.38.

Align Technology Trading Up 6.0 %

Shares of ALGN stock opened at $224.85 on Thursday. The company has a market cap of $16.80 billion, a P/E ratio of 38.37, a PEG ratio of 4.93 and a beta of 1.65. The firm has a fifty day moving average price of $230.02 and a 200 day moving average price of $244.03. Align Technology, Inc. has a 12 month low of $186.01 and a 12 month high of $335.40.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The business had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. During the same quarter in the prior year, the business posted $1.62 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities analysts forecast that Align Technology, Inc. will post 7.45 EPS for the current year.

Insider Buying and Selling at Align Technology

In related news, Director C Raymond Larkin, Jr. acquired 6,500 shares of Align Technology stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the transaction, the director now owns 28,247 shares of the company’s stock, valued at $6,647,366.51. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.62% of the stock is currently owned by insiders.

Align Technology 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.