Atomi Financial Group Inc. Sells 476 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Atomi Financial Group Inc. decreased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 24.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,484 shares of the medical equipment provider’s stock after selling 476 shares during the period. Atomi Financial Group Inc.’s holdings in Align Technology were worth $309,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in ALGN. MassMutual Private Wealth & Trust FSB grew its position in Align Technology by 174.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 631 shares of the medical equipment provider’s stock valued at $132,000 after purchasing an additional 401 shares in the last quarter. Trust Co. of Vermont grew its position in Align Technology by 332.5% in the fourth quarter. Trust Co. of Vermont now owns 692 shares of the medical equipment provider’s stock valued at $144,000 after purchasing an additional 532 shares in the last quarter. Arkadios Wealth Advisors grew its position in Align Technology by 13.3% in the fourth quarter. Arkadios Wealth Advisors now owns 1,397 shares of the medical equipment provider’s stock valued at $291,000 after purchasing an additional 164 shares in the last quarter. Merit Financial Group LLC bought a new position in Align Technology in the fourth quarter valued at $325,000. Finally, Avanza Fonder AB bought a new position in Align Technology in the fourth quarter valued at $1,776,000. Institutional investors own 88.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Mizuho assumed coverage on shares of Align Technology in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 target price for the company. 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 research note on Thursday, October 24th. Bank of America increased their price target on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, 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 research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and a consensus price target of $267.45.

Align Technology Stock Performance

NASDAQ ALGN opened at $233.30 on Friday. The firm has a 50-day moving average of $223.06 and a 200-day moving average of $227.81. The stock has a market cap of $17.42 billion, a PE ratio of 39.81, a P/E/G ratio of 5.14 and a beta of 1.67. Align Technology, Inc. has a 52-week low of $196.09 and a 52-week high of $335.40.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping 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 business had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. During the same period last year, the firm earned $1.62 earnings per share. Align Technology’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, analysts predict that Align Technology, Inc. will post 7.47 EPS for the current fiscal year.

About Align Technology

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.