Align Technology, Inc. (NASDAQ:ALGN) Position Lessened by Norden Group LLC

Norden Group LLC lowered its position in Align Technology, Inc. (NASDAQ:ALGN) by 18.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 975 shares of the medical equipment provider’s stock after selling 215 shares during the quarter. Norden Group LLC’s holdings in Align Technology were worth $267,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Huntington National Bank raised its holdings in Align Technology by 94.9% during the third quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 56 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of Align Technology in the 3rd quarter valued at approximately $61,000. Operose Advisors LLC bought a new stake in Align Technology during the third quarter worth approximately $63,000. Covestor Ltd grew its holdings in Align Technology by 379.5% during the third quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock valued at $64,000 after purchasing an additional 167 shares during the last quarter. Finally, Valley National Advisers Inc. raised its position in shares of Align Technology by 29.7% in the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock valued at $65,000 after purchasing an additional 49 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Align Technology

In other Align Technology news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the transaction, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the completion of the sale, the director now directly owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares in the company, valued at $203,802.05. The disclosure for this sale can be found here. Insiders sold a total of 27,524 shares of company stock valued at $8,403,924 over the last quarter. Corporate insiders own 0.62% of the company’s stock.

Align Technology Stock Up 0.8 %

Shares of Align Technology stock opened at $284.52 on Thursday. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20. The stock has a market capitalization of $21.41 billion, a P/E ratio of 46.87, a price-to-earnings-growth ratio of 5.65 and a beta of 1.65. The company has a 50-day simple moving average of $312.28 and a 200 day simple moving average of $271.29.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. The business had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. On average, equities analysts anticipate that Align Technology, Inc. will post 7.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group lifted their target price on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. SVB Leerink started coverage on Align Technology in a research report on Monday, February 26th. They issued a “market perform” rating and a $310.00 target price for the company. Morgan Stanley boosted their price target on shares of Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Robert W. Baird increased their price objective on shares of Align Technology from $333.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group lifted their target price on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $353.00.

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.