Yousif Capital Management LLC Sells 254 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Yousif Capital Management LLC reduced its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 11,220 shares of the medical equipment provider’s stock after selling 254 shares during the quarter. Yousif Capital Management LLC’s holdings in Align Technology were worth $3,074,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ALGN. Bank of New York Mellon Corp increased its stake in shares of Align Technology by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,228,875 shares of the medical equipment provider’s stock valued at $375,200,000 after buying an additional 29,497 shares during the period. Morgan Stanley boosted its holdings in Align Technology by 9.8% in the third quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock valued at $310,866,000 after acquiring an additional 90,581 shares during the last quarter. Rhenman & Partners Asset Management AB acquired a new stake in Align Technology in the third quarter worth about $305,000. Invesco Ltd. raised its holdings in Align Technology by 15.4% during the 3rd quarter. Invesco Ltd. now owns 960,271 shares of the medical equipment provider’s stock worth $293,190,000 after purchasing an additional 128,273 shares during the last quarter. Finally, Northern Trust Corp lifted its position in Align Technology by 2.7% during the 3rd quarter. Northern Trust Corp now owns 831,469 shares of the medical equipment provider’s stock valued at $253,864,000 after purchasing an additional 21,490 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Activity

In related news, EVP Emory Wright sold 2,524 shares of the stock in a transaction dated Wednesday, February 7th. The stock was 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 in the company, valued at $203,802.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 709 shares of the company’s stock, valued at $203,802.05. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 131,994 shares of the company’s stock, valued at approximately $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 worth $8,403,924 over the last three months. Corporate insiders own 0.64% of the company’s stock.

Analyst Upgrades and Downgrades

ALGN has been the subject of several analyst reports. Piper Sandler reiterated an “overweight” rating and set a $375.00 price target (up previously from $355.00) on shares of Align Technology in a research report on Thursday. The Goldman Sachs Group upped their target price 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. Morgan Stanley increased their price target on Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. Finally, UBS Group increased their target price on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $353.00.

Align Technology Stock Performance

Shares of ALGN stock opened at $309.02 on Monday. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $413.20. The company’s 50 day moving average price is $313.38 and its two-hundred day moving average price is $270.82. The company has a market capitalization of $23.25 billion, a P/E ratio of 50.91, a price-to-earnings-growth ratio of 5.53 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last issued 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 business had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. Analysts forecast that Align Technology, Inc. will post 7.69 earnings per share for the current 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.