Financial Counselors Inc. Sells 5,406 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Financial Counselors Inc. trimmed its stake in Align Technology, Inc. (NASDAQ:ALGN) by 81.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,203 shares of the medical equipment provider’s stock after selling 5,406 shares during the period. Financial Counselors Inc.’s holdings in Align Technology were worth $330,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Impax Asset Management Group plc lifted its position in shares of Align Technology by 65.0% in the 4th quarter. Impax Asset Management Group plc now owns 114,369 shares of the medical equipment provider’s stock worth $31,337,000 after purchasing an additional 45,070 shares during the period. Sequoia Financial Advisors LLC lifted its position in shares of Align Technology by 67.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 1,679 shares of the medical equipment provider’s stock worth $460,000 after purchasing an additional 679 shares during the period. HBK Sorce Advisory LLC lifted its position in shares of Align Technology by 26.1% in the 4th quarter. HBK Sorce Advisory LLC now owns 1,597 shares of the medical equipment provider’s stock worth $438,000 after purchasing an additional 331 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of Align Technology in the 4th quarter worth about $141,140,000. Finally, Equitable Trust Co. lifted its position in shares of Align Technology by 10.1% in the 4th quarter. Equitable Trust Co. now owns 1,801 shares of the medical equipment provider’s stock worth $493,000 after purchasing an additional 165 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Stock Performance

Shares of Align Technology stock opened at $314.97 on Friday. The stock has a market capitalization of $23.70 billion, a PE ratio of 54.12, a price-to-earnings-growth ratio of 5.85 and a beta of 1.65. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $413.20. The company has a 50-day simple moving average of $311.38 and a two-hundred day simple moving average of $270.00.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The firm had revenue of $956.73 million during the quarter, compared to analyst estimates of $928.57 million. As a group, equities research analysts forecast that Align Technology, Inc. will post 7.65 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALGN has been the subject of several research analyst reports. Stifel Nicolaus raised their target price on shares of Align Technology from $340.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. SVB Leerink started coverage on shares of Align Technology in a research report on Monday, February 26th. They set a “market perform” rating and a $310.00 price target for the company. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. Piper Sandler lifted their price target on shares of Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. Finally, The Goldman Sachs Group lifted their price target on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $334.45.

Insider Transactions at Align Technology

In other news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the sale, the executive vice president now directly owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the completion of the sale, the director now directly owns 131,994 shares in the company, valued at $40,023,220.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now owns 709 shares of the company’s stock, valued at $203,802.05. The disclosure for this sale can be found here. Insiders sold 27,524 shares of company stock worth $8,403,924 over the last three months. 0.64% of the stock is currently owned by company insiders.

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.