IFP Advisors Inc Has $283,000 Stake in Align Technology, Inc. (NASDAQ:ALGN)

IFP Advisors Inc trimmed its position in Align Technology, Inc. (NASDAQ:ALGN – Get Rating) by 47.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 828 shares of the medical equipment provider’s stock after selling 743 shares during the quarter. IFP Advisors Inc’s holdings in Align Technology were worth $283,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. General Partner Inc. bought a new position in Align Technology in the fourth quarter valued at approximately $29,000. Cullen Frost Bankers Inc. increased its stake in Align Technology by 188.0% in the third quarter. Cullen Frost Bankers Inc. now owns 144 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 94 shares during the last quarter. Tsfg LLC increased its stake in Align Technology by 40.0% in the fourth quarter. Tsfg LLC now owns 175 shares of the medical equipment provider’s stock valued at $37,000 after acquiring an additional 50 shares during the last quarter. Spire Wealth Management increased its stake in Align Technology by 34.8% in the fourth quarter. Spire Wealth Management now owns 178 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 46 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd increased its stake in Align Technology by 99.0% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 191 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 95 shares during the last quarter. 84.90% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ALGN shares. CICC Research started coverage on shares of Align Technology in a research note on Thursday, March 23rd. They set a “market perform” rating on the stock. The Goldman Sachs Group raised shares of Align Technology from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $165.00 to $307.00 in a research note on Thursday, February 2nd. OTR Global raised shares of Align Technology from a “mixed” rating to a “positive” rating in a research note on Friday, March 31st. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Friday, April 28th. Finally, Evercore ISI boosted their target price on shares of Align Technology from $230.00 to $375.00 and gave the stock an “outperform” rating in a research note on Thursday, February 2nd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $347.78.

Align Technology Stock Down 1.1 %

Shares of Align Technology stock opened at $302.74 on Wednesday. Align Technology, Inc. has a twelve month low of $172.05 and a twelve month high of $368.87. The stock has a market cap of $23.23 billion, a price-to-earnings ratio of 74.75, a P/E/G ratio of 2.70 and a beta of 1.60. The company’s fifty day moving average is $325.24 and its 200 day moving average is $266.34.

About Align Technology

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Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of Invisalign full, teen, and assist products, and Vivera retainers for treating malocclusion.