Brinker Capital Investments LLC Sells 216 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Brinker Capital Investments LLC decreased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN – Get Rating) by 4.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,761 shares of the medical equipment provider’s stock after selling 216 shares during the quarter. Brinker Capital Investments LLC’s holdings in Align Technology were worth $986,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Congress Wealth Management LLC DE increased its position in Align Technology by 2.3% during the 2nd quarter. Congress Wealth Management LLC DE now owns 1,539 shares of the medical equipment provider’s stock valued at $364,000 after purchasing an additional 35 shares during the period. First Horizon Advisors Inc. increased its position in Align Technology by 14.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 345 shares of the medical equipment provider’s stock valued at $80,000 after purchasing an additional 43 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its position in Align Technology by 0.6% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 7,188 shares of the medical equipment provider’s stock valued at $1,701,000 after purchasing an additional 44 shares during the period. Massmutual Trust Co. FSB ADV increased its position in Align Technology by 27.3% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 224 shares of the medical equipment provider’s stock valued at $46,000 after purchasing an additional 48 shares during the period. Finally, Gryphon Financial Partners LLC increased its position in Align Technology by 5.0% during the 2nd quarter. Gryphon Financial Partners LLC now owns 1,050 shares of the medical equipment provider’s stock valued at $248,000 after purchasing an additional 50 shares during the period. Institutional investors own 84.90% of the company’s stock.

Align Technology Stock Up 2.8 %

ALGN stock opened at $243.01 on Monday. The firm has a 50 day moving average of $208.11 and a 200 day moving average of $228.51. The stock has a market capitalization of $18.98 billion, a PE ratio of 37.56, a price-to-earnings-growth ratio of 29.94 and a beta of 1.59. Align Technology, Inc. has a 52 week low of $172.05 and a 52 week high of $552.00.

Align Technology (NASDAQ:ALGN – Get Rating) last released its earnings results on Wednesday, October 26th. The medical equipment provider reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.93 by ($0.95). Align Technology had a return on equity of 14.39% and a net margin of 13.22%. The company had revenue of $890.35 million during the quarter, compared to analyst estimates of $973.00 million. During the same quarter last year, the business earned $2.28 earnings per share. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, equities research analysts expect that Align Technology, Inc. will post 5.8 earnings per share for the current year.

Insider Buying and Selling at Align Technology

In other Align Technology news, Director Warren S. Thaler acquired 1,050 shares of the firm’s stock in a transaction on Wednesday, November 2nd. The stock was acquired at an average cost of $191.21 per share, for a total transaction of $200,770.50. Following the purchase, the director now owns 30,666 shares in the company, valued at approximately $5,863,645.86. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Joseph M. Hogan bought 10,600 shares of the firm’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was purchased at an average cost of $188.58 per share, for a total transaction of $1,998,948.00. Following the purchase, the chief executive officer now directly owns 185,401 shares in the company, valued at approximately $34,962,920.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Warren S. Thaler bought 1,050 shares of the firm’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was purchased at an average price of $191.21 per share, with a total value of $200,770.50. Following the completion of the purchase, the director now owns 30,666 shares in the company, valued at $5,863,645.86. The disclosure for this purchase can be found here. Company insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ALGN shares. Stifel Nicolaus cut their target price on shares of Align Technology from $325.00 to $265.00 in a research report on Thursday, October 27th. The Goldman Sachs Group cut their target price on shares of Align Technology from $250.00 to $165.00 and set a “sell” rating on the stock in a research report on Thursday, October 27th. Robert W. Baird cut their price objective on shares of Align Technology from $310.00 to $260.00 in a research report on Thursday, October 27th. Piper Sandler lifted their price objective on shares of Align Technology from $230.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 11th. Finally, Morgan Stanley cut their price objective on shares of Align Technology from $402.00 to $314.00 and set an “overweight” rating on the stock in a research report on Thursday, October 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $300.78.

Align Technology Company Profile

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Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services.