Sigma Planning Corp Has $344,000 Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Sigma Planning Corp decreased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 15.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,254 shares of the medical equipment provider’s stock after selling 230 shares during the period. Sigma Planning Corp’s holdings in Align Technology were worth $344,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. DAVENPORT & Co LLC grew its stake in Align Technology by 3.1% in the 3rd quarter. DAVENPORT & Co LLC now owns 2,172 shares of the medical equipment provider’s stock valued at $663,000 after buying an additional 66 shares during the last quarter. Czech National Bank boosted its holdings in Align Technology by 47.7% in the 3rd quarter. Czech National Bank now owns 12,441 shares of the medical equipment provider’s stock valued at $3,798,000 after purchasing an additional 4,016 shares during the period. Asset Management One Co. Ltd. boosted its holdings in Align Technology by 1.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 30,319 shares of the medical equipment provider’s stock valued at $9,257,000 after purchasing an additional 387 shares during the period. Handelsbanken Fonder AB boosted its holdings in Align Technology by 3.0% in the 3rd quarter. Handelsbanken Fonder AB now owns 32,348 shares of the medical equipment provider’s stock valued at $9,876,000 after purchasing an additional 936 shares during the period. Finally, Ascent Wealth Partners LLC boosted its holdings in Align Technology by 16.4% in the 3rd quarter. Ascent Wealth Partners LLC now owns 1,087 shares of the medical equipment provider’s stock valued at $332,000 after purchasing an additional 153 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Performance

NASDAQ:ALGN opened at $309.02 on Friday. The company has a 50-day moving average of $313.38 and a 200-day moving average of $270.87. The company has a market capitalization of $23.25 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 5.56 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.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data 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. The company had revenue of $956.73 million during the quarter, compared to the consensus estimate of $928.57 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. Sell-side analysts forecast that Align Technology, Inc. will post 7.69 EPS for the current year.

Wall Street Analyst Weigh In

ALGN has been the subject of a number of research reports. Robert W. Baird increased their price target on shares of Align Technology from $333.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. Piper Sandler reissued an “overweight” rating and issued a $375.00 price target (up from $355.00) on shares of Align Technology in a report on Thursday. UBS Group increased their price target on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Finally, Morgan Stanley increased their price target on shares of Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a report on Thursday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $353.00.

Insider Activity at Align Technology

In related news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $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 Align Technology 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 transaction, the director now directly owns 146,994 shares of the company’s stock, valued at $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 in the last ninety days. Insiders own 0.64% of the company’s stock.

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.