Align Technology, Inc. $ALGN Shares Sold by GRIMES & Co WEALTH MANAGEMENT LLC

GRIMES & Co WEALTH MANAGEMENT LLC reduced its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 11.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,016 shares of the medical equipment provider’s stock after selling 5,010 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC owned 0.06% of Align Technology worth $5,011,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Steigerwald Gordon & Koch Inc. purchased a new stake in Align Technology in the 3rd quarter worth approximately $26,000. Rothschild Investment LLC lifted its stake in shares of Align Technology by 140.3% during the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 87 shares during the period. True Wealth Design LLC boosted its holdings in shares of Align Technology by 7,650.0% during the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 153 shares during the last quarter. Quent Capital LLC purchased a new stake in shares of Align Technology in the third quarter valued at $30,000. Finally, Cromwell Holdings LLC grew its position in shares of Align Technology by 2,900.0% in the second 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 during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Performance

NASDAQ ALGN opened at $172.00 on Tuesday. Align Technology, Inc. has a one year low of $122.00 and a one year high of $237.23. The company’s 50 day moving average price is $152.26 and its 200 day moving average price is $151.67. The firm has a market capitalization of $12.34 billion, a price-to-earnings ratio of 33.33, a PEG ratio of 1.95 and a beta of 1.83.

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, topping the consensus estimate of $2.38 by $0.23. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The company had revenue of $995.69 million during the quarter, compared to the consensus estimate of $980.75 million. During the same period in the previous year, the firm earned $2.35 earnings per share. Align Technology’s revenue for the quarter was up 1.8% on a year-over-year basis. Sell-side analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ALGN has been the topic of several recent analyst reports. Leerink Partners increased their target price on Align Technology from $172.00 to $189.00 in a research report on Thursday, October 30th. Weiss Ratings lowered shares of Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. Wall Street Zen raised shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Mizuho lowered their target price on shares of Align Technology from $210.00 to $170.00 and set an “outperform” rating for the company in a report on Monday, October 13th. Finally, Zacks Research raised shares of Align Technology from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 30th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Align Technology has a consensus rating of “Hold” and an average target price of $172.18.

Align Technology Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.