Sequoia Financial Advisors LLC Buys 679 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Sequoia Financial Advisors LLC lifted its position in Align Technology, Inc. (NASDAQ:ALGN) by 67.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,679 shares of the medical equipment provider’s stock after purchasing an additional 679 shares during the period. Sequoia Financial Advisors LLC’s holdings in Align Technology were worth $460,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ALGN. KB Financial Partners LLC purchased a new position in shares of Align Technology in the 1st quarter valued at approximately $26,000. Cornerstone Planning Group LLC bought a new stake in shares of Align Technology during the 2nd quarter valued at $29,000. Huntington National Bank grew its position in shares of Align Technology by 94.9% in the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 56 shares during the period. First Manhattan CO. LLC. grew its position in shares of Align Technology by 593.8% in the 1st quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 95 shares during the period. Finally, Compagnie Lombard Odier SCmA bought a new position in shares of Align Technology in the 3rd quarter worth about $61,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALGN has been the topic of several research reports. SVB Leerink initiated coverage on shares of Align Technology in a research note on Monday, February 26th. They set a “market perform” rating and a $310.00 price objective on the stock. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. The Goldman Sachs Group upped their price target on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research note on Friday, February 2nd. UBS Group lifted their price objective on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Stifel Nicolaus increased their target price on Align Technology from $340.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, March 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six 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 a consensus price target of $339.91.

Insider Activity

In other Align Technology 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 owns 709 shares of the company’s stock, valued at approximately $203,802.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Align Technology news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares of the company’s stock, valued at $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the sale, the director now directly owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. The disclosure for this sale can be found here. Insiders sold 27,524 shares of company stock valued at $8,403,924 over the last three months. Insiders own 0.72% of the company’s stock.

Align Technology Price Performance

Shares of NASDAQ:ALGN opened at $300.14 on Thursday. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $413.20. The company has a market cap of $22.59 billion, a P/E ratio of 51.57, a PEG ratio of 5.49 and a beta of 1.65. The stock’s fifty day moving average price is $312.61 and its 200-day moving average price is $269.97.

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

Align Technology Company 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.