Brown Advisory Inc. Sells 43,067 Shares of Align Technology, Inc. $ALGN

Brown Advisory Inc. lowered its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 11.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 349,899 shares of the medical equipment provider’s stock after selling 43,067 shares during the quarter. Brown Advisory Inc. owned approximately 0.48% of Align Technology worth $66,246,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALGN. Rothschild Investment LLC increased its holdings in shares of Align Technology by 140.3% during the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 87 shares in the last quarter. True Wealth Design LLC increased its holdings in Align Technology by 7,650.0% during the 2nd quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 153 shares in the last quarter. Cromwell Holdings LLC increased its holdings in Align Technology by 2,900.0% during the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider’s stock valued at $34,000 after purchasing an additional 174 shares in the last quarter. SVB Wealth LLC bought a new position in Align Technology in the 1st quarter valued at $36,000. Finally, MAI Capital Management boosted its stake in Align Technology by 84.8% in the second quarter. MAI Capital Management now owns 255 shares of the medical equipment provider’s stock worth $48,000 after purchasing an additional 117 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Trading Up 0.2%

NASDAQ ALGN opened at $157.21 on Friday. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $246.19. The stock has a 50-day simple moving average of $137.00 and a 200 day simple moving average of $155.47. The company has a market capitalization of $11.28 billion, a PE ratio of 30.47, a P/E/G ratio of 1.91 and a beta of 1.86.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.23. The company had revenue of $995.69 million during the quarter, compared to analyst estimates of $980.75 million. Align Technology had a return on equity of 13.96% and a net margin of 9.50%.The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.35 EPS. As a group, sell-side analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on Align Technology from $199.00 to $181.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. Weiss Ratings cut shares of Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Jefferies Financial Group boosted their price objective on shares of Align Technology from $140.00 to $155.00 in a research report on Thursday, October 30th. Mizuho lowered their target price on Align Technology from $210.00 to $170.00 and set an “outperform” rating for the company in a research note on Monday, October 13th. Finally, Morgan Stanley raised their price target on Align Technology from $142.00 to $154.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $175.45.

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.