Fisher Asset Management LLC Sells 4,660 Shares of Align Technology, Inc. $ALGN

Fisher Asset Management LLC lessened its stake in Align Technology, Inc. (NASDAQ:ALGN) by 8.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,891 shares of the medical equipment provider’s stock after selling 4,660 shares during the period. Fisher Asset Management LLC owned approximately 0.07% of Align Technology worth $10,014,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in ALGN. Redmond Asset Management LLC grew its position in Align Technology by 2.0% in the first quarter. Redmond Asset Management LLC now owns 2,769 shares of the medical equipment provider’s stock worth $440,000 after acquiring an additional 54 shares in the last quarter. Horizon Investments LLC raised its position in Align Technology by 6.2% during the first quarter. Horizon Investments LLC now owns 1,018 shares of the medical equipment provider’s stock valued at $162,000 after purchasing an additional 59 shares in the last quarter. Atria Investments Inc lifted its stake in Align Technology by 4.9% during the second quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider’s stock worth $298,000 after purchasing an additional 74 shares during the last quarter. IFP Advisors Inc boosted its holdings in shares of Align Technology by 5.7% in the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the medical equipment provider’s stock worth $270,000 after purchasing an additional 77 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Align Technology by 18.8% in the 1st quarter. Covestor Ltd now owns 493 shares of the medical equipment provider’s stock worth $78,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

ALGN has been the subject of a number of recent research reports. Zacks Research upgraded Align Technology from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 30th. Wall Street Zen raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings cut shares of Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. Finally, Leerink Partners boosted their price target on shares of Align Technology from $172.00 to $189.00 in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Align Technology currently has an average rating of “Hold” and an average target price of $175.45.

Align Technology Stock Up 2.7%

NASDAQ:ALGN opened at $155.00 on Thursday. The firm has a market capitalization of $11.12 billion, a P/E ratio of 30.04, a P/E/G ratio of 1.79 and a beta of 1.86. The company has a fifty day moving average of $135.74 and a 200 day moving average of $155.66. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $246.19.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.23. The firm had revenue of $995.69 million for the quarter, compared to analysts’ expectations of $980.75 million. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.35 earnings per share. As a group, analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current year.

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.