Atria Investments Inc Has $696,000 Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Atria Investments Inc lessened its stake in Align Technology, Inc. (NASDAQ:ALGN) by 36.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,736 shares of the medical equipment provider’s stock after selling 1,580 shares during the quarter. Atria Investments Inc’s holdings in Align Technology were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Cullen Frost Bankers Inc. raised its position in Align Technology by 854.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 94 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Align Technology during the second quarter valued at $26,000. Rothschild Investment LLC bought a new position in Align Technology in the second quarter valued at about $26,000. Versant Capital Management Inc increased its position in Align Technology by 547.1% in the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 93 shares during the period. Finally, LRI Investments LLC bought a new stake in Align Technology during the 1st quarter worth about $29,000. 88.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Evercore ISI decreased their price objective on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Piper Sandler cut their target price on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Stifel Nicolaus reduced their target price on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $276.38.

Align Technology Price Performance

Shares of Align Technology stock opened at $229.90 on Tuesday. The company has a market capitalization of $17.16 billion, a P/E ratio of 39.23, a price-to-earnings-growth ratio of 5.79 and a beta of 1.65. The business has a 50-day moving average of $229.02 and a two-hundred day moving average of $239.22. Align Technology, Inc. has a 1 year low of $196.09 and a 1 year high of $335.40.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $990.05 million. During the same period in the prior year, the business earned $1.62 EPS. Align Technology’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities analysts anticipate that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.

About Align Technology

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.