Align Technology, Inc. (NASDAQ:ALGN) Holdings Decreased by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. reduced its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 39.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,034 shares of the medical equipment provider’s stock after selling 670 shares during the period. Stratos Wealth Partners LTD.’s holdings in Align Technology were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of ALGN. Raymond James Trust N.A. raised its stake in shares of Align Technology by 39.4% during the first quarter. Raymond James Trust N.A. now owns 934 shares of the medical equipment provider’s stock valued at $407,000 after purchasing an additional 264 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Align Technology by 11.1% during the first quarter. Dimensional Fund Advisors LP now owns 180,978 shares of the medical equipment provider’s stock valued at $78,911,000 after purchasing an additional 18,153 shares in the last quarter. Prudential PLC bought a new stake in shares of Align Technology during the first quarter valued at about $955,000. Cetera Investment Advisers raised its stake in shares of Align Technology by 4.9% during the first quarter. Cetera Investment Advisers now owns 1,713 shares of the medical equipment provider’s stock valued at $747,000 after purchasing an additional 80 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Align Technology by 17.1% during the first quarter. Sequoia Financial Advisors LLC now owns 526 shares of the medical equipment provider’s stock valued at $229,000 after purchasing an additional 77 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Performance

ALGN opened at $304.74 on Tuesday. The business has a 50 day moving average price of $311.97 and a 200 day moving average price of $269.75. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $413.20. The firm has a market cap of $22.93 billion, a P/E ratio of 52.36, a price-to-earnings-growth ratio of 5.67 and a beta of 1.65.

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

Insiders Place Their Bets

In other news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares in the company, valued at $203,802.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares in the company, valued at $203,802.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the sale, the director now owns 131,994 shares in the company, valued at $40,023,220.68. The disclosure for this sale can be found here. Insiders have sold a total of 27,524 shares of company stock valued at $8,403,924 in the last three months. Company insiders own 0.72% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ALGN shares. SVB Leerink started coverage on Align Technology in a report on Monday, February 26th. They set a “market perform” rating and a $310.00 target price on the stock. The Goldman Sachs Group lifted their target price on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a report on Friday, February 2nd. Stifel Nicolaus lifted their target price on Align Technology from $340.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, March 15th. UBS Group lifted their target price on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Piper Sandler lifted their price target on Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $339.91.

Align Technology Profile

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.