Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Sicart Associates LLC

Sicart Associates LLC decreased its position in Align Technology, Inc. (NASDAQ:ALGN) by 10.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,303 shares of the medical equipment provider’s stock after selling 370 shares during the quarter. Sicart Associates LLC’s holdings in Align Technology were worth $689,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC boosted its holdings in shares of Align Technology by 10,700.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 107 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new position in Align Technology during the second quarter worth about $31,000. Quarry LP boosted its stake in Align Technology by 53.0% in the 2nd quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 44 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Align Technology in the 3rd quarter worth about $32,000. Finally, CVA Family Office LLC grew its holdings in Align Technology by 85.2% in the 3rd quarter. CVA Family Office LLC now owns 150 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 69 shares during the period. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALGN. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. Mizuho initiated coverage on shares of Align Technology in a report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price target on the stock. Evercore ISI lowered 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. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. Finally, Piper Sandler lowered their price target on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $268.20.

Align Technology Trading Up 1.5 %

Shares of ALGN stock opened at $218.91 on Friday. The firm has a fifty day simple moving average of $222.10 and a 200-day simple moving average of $228.44. The company has a market capitalization of $16.34 billion, a PE ratio of 37.36, a price-to-earnings-growth ratio of 4.64 and a beta of 1.67. Align Technology, Inc. has a twelve month low of $196.09 and a twelve month high of $335.40.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company 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 company posted $1.62 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts predict that Align Technology, Inc. will post 7.44 EPS for the current 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.