Park Avenue Securities LLC Sells 136 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Park Avenue Securities LLC lowered its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 5.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,504 shares of the medical equipment provider’s stock after selling 136 shares during the period. Park Avenue Securities LLC’s holdings in Align Technology were worth $522,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in shares of Align Technology by 49.0% in the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after buying an additional 866,663 shares during the period. Geode Capital Management LLC lifted its position in shares of Align Technology by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock valued at $443,810,000 after acquiring an additional 21,605 shares during the period. FMR LLC grew its holdings in shares of Align Technology by 43.0% during the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after purchasing an additional 367,508 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its position in shares of Align Technology by 6.4% in the third quarter. Disciplined Growth Investors Inc. MN now owns 753,026 shares of the medical equipment provider’s stock worth $191,510,000 after purchasing an additional 45,484 shares during the period. Finally, Point72 Asset Management L.P. raised its stake in Align Technology by 96.3% in the third quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock valued at $171,493,000 after purchasing an additional 330,807 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley reduced their price target on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus lowered their price objective on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and raised their target price for the company from $235.00 to $280.00 in a report on Monday, January 6th. Finally, Robert W. Baird lowered their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.45.

Align Technology Trading Up 1.2 %

Align Technology stock opened at $234.89 on Friday. The stock has a 50-day moving average price of $222.61 and a two-hundred day moving average price of $227.87. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40. The company has a market capitalization of $17.53 billion, a PE ratio of 40.08, a P/E/G ratio of 5.00 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.04. The firm had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 earnings per share. As a group, analysts predict that Align Technology, Inc. will post 7.48 earnings per share for the current fiscal year.

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.