Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by AM Squared Ltd

AM Squared Ltd lowered its stake in Align Technology, Inc. (NASDAQ:ALGN) by 20.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 400 shares of the medical equipment provider’s stock after selling 100 shares during the quarter. AM Squared Ltd’s holdings in Align Technology were worth $102,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ALGN. Cullen Frost Bankers Inc. lifted its holdings in Align Technology by 854.5% in the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 94 shares during the period. Innealta Capital LLC acquired a new stake in Align Technology in the second quarter worth about $26,000. Rothschild Investment LLC acquired a new stake in Align Technology in the second quarter worth about $26,000. Versant Capital Management Inc lifted its holdings in Align Technology by 547.1% in the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 93 shares during the period. Finally, LRI Investments LLC acquired a new stake in Align Technology in the first quarter worth about $29,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ALGN shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Robert W. Baird cut their price target on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Piper Sandler cut their price target on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus cut their price target on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Finally, StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $276.38.

Align Technology Trading Up 0.9 %

NASDAQ ALGN opened at $223.69 on Friday. The stock’s 50-day moving average price is $228.85 and its two-hundred day moving average price is $239.93. The company has a market cap of $16.70 billion, a PE ratio of 38.17, a PEG ratio of 5.79 and a beta of 1.65. Align Technology, Inc. has a 1 year low of $196.09 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.04. The firm had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.62 EPS. Research analysts forecast that Align Technology, Inc. will post 7.45 EPS 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.