Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by UMB Bank n.a.

UMB Bank n.a. decreased its position in Align Technology, Inc. (NASDAQ:ALGNFree Report) by 18.0% during the 4th quarter, Holdings Channel reports. The firm owned 597 shares of the medical equipment provider’s stock after selling 131 shares during the quarter. UMB Bank n.a.’s holdings in Align Technology were worth $124,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its stake in Align Technology by 49.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after acquiring an additional 866,663 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of Align Technology during the 3rd quarter worth approximately $137,287,000. FMR LLC raised its position in shares of Align Technology by 43.0% during the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after purchasing an additional 367,508 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Align Technology by 96.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock valued at $171,493,000 after buying an additional 330,807 shares in the last quarter. Finally, Senvest Management LLC grew its holdings in Align Technology by 76.4% during the 3rd quarter. Senvest Management LLC now owns 459,243 shares of the medical equipment provider’s stock valued at $116,795,000 after buying an additional 198,893 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of NASDAQ:ALGN opened at $234.89 on Friday. The business has a 50-day moving average of $222.61 and a two-hundred day moving average of $227.87. The firm has a market capitalization of $17.53 billion, a PE ratio of 40.08, a P/E/G ratio of 5.00 and a beta of 1.67. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40.

Align Technology (NASDAQ:ALGNGet Free Report) last announced its quarterly earnings results 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 firm had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. During the same period in the previous year, the company posted $1.62 earnings per share. Align Technology’s revenue was up 1.8% compared to the same quarter last year. As a group, research analysts anticipate that Align Technology, Inc. will post 7.48 earnings per share for the current year.

Analysts Set New Price Targets

ALGN has been the topic of several recent research reports. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. 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 research note on Thursday, October 24th. Jefferies Financial Group lowered their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a report on Thursday. Mizuho started coverage on shares of Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective on the stock. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Align Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $267.45.

View Our Latest Stock Report on Align Technology

About Align Technology

(Free Report)

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.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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