Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by WD Rutherford LLC

WD Rutherford LLC cut its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 6.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,539 shares of the medical equipment provider’s stock after selling 100 shares during the quarter. WD Rutherford LLC’s holdings in Align Technology were worth $391,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ALGN. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Align Technology by 4,391.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 488,251 shares of the medical equipment provider’s stock worth $117,879,000 after acquiring an additional 477,380 shares during the last quarter. Swedbank AB acquired a new position in shares of Align Technology in the first quarter valued at approximately $96,117,000. Bares Capital Management Inc. lifted its stake in shares of Align Technology by 44.4% during the first quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock valued at $268,871,000 after buying an additional 252,220 shares during the period. Point72 Asset Management L.P. grew its stake in Align Technology by 127.4% in the 2nd quarter. Point72 Asset Management L.P. now owns 343,512 shares of the medical equipment provider’s stock worth $82,934,000 after acquiring an additional 192,474 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Align Technology by 371.0% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 218,779 shares of the medical equipment provider’s stock worth $71,742,000 after purchasing an additional 172,330 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Stock Performance

NASDAQ:ALGN opened at $212.78 on Wednesday. The company has a market capitalization of $15.89 billion, a P/E ratio of 36.31, a P/E/G ratio of 5.33 and a beta of 1.64. The stock’s 50 day moving average price is $232.51 and its 200 day moving average price is $247.42. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week 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 for the quarter, topping the consensus estimate of $2.31 by $0.04. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The firm had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. During the same period in the previous year, the company earned $1.62 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, sell-side analysts forecast that Align Technology, Inc. will post 7.61 earnings per share for the current fiscal year.

Insider Activity at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the purchase, the director now owns 28,247 shares in the company, valued at $6,647,366.51. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

ALGN has been the subject of a number of research analyst reports. Evercore ISI dropped their price objective 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. Stifel Nicolaus decreased their price target on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Robert W. Baird dropped their price objective on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a report on Thursday, October 24th. Finally, StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $276.38.

Align Technology Company 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.