Ieq Capital LLC Sells 357 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Ieq Capital LLC reduced its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 35,415 shares of the medical equipment provider’s stock after selling 357 shares during the quarter. Ieq Capital LLC’s holdings in Align Technology were worth $8,550,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Gryphon Financial Partners LLC raised its holdings in Align Technology by 31.0% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,396 shares of the medical equipment provider’s stock valued at $383,000 after buying an additional 330 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Align Technology by 3.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 213,667 shares of the medical equipment provider’s stock valued at $58,548,000 after acquiring an additional 7,266 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Align Technology by 34.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 12,546 shares of the medical equipment provider’s stock worth $3,438,000 after acquiring an additional 3,185 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of Align Technology by 19.2% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,941 shares of the medical equipment provider’s stock worth $532,000 after purchasing an additional 313 shares during the period. Finally, D.A. Davidson & CO. grew its holdings in Align Technology by 4.5% during the 4th quarter. D.A. Davidson & CO. now owns 4,644 shares of the medical equipment provider’s stock valued at $1,272,000 after purchasing an additional 200 shares during the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director C Raymond Larkin, Jr. bought 6,500 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average price of $235.33 per share, with a total value 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. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.62% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Morgan Stanley decreased their price objective on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. OTR Global reissued a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4th. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday. Evercore ISI decreased their target price on Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 10th. Finally, Stifel Nicolaus cut their price target on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $306.88.

Align Technology Price Performance

ALGN stock opened at $257.17 on Friday. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $335.40. The business has a 50-day moving average price of $232.30 and a 200 day moving average price of $265.24. The company has a market capitalization of $19.36 billion, a P/E ratio of 42.37, a PEG ratio of 5.13 and a beta of 1.64.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, beating the consensus estimate of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the previous year, the business posted $1.73 EPS. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, analysts anticipate that Align Technology, Inc. will post 7.61 earnings per share 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.