Barclays PLC Sells 14,875 Shares of Align Technology, Inc. $ALGN

Barclays PLC decreased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 249,424 shares of the medical equipment provider’s stock after selling 14,875 shares during the quarter. Barclays PLC owned about 0.35% of Align Technology worth $31,233,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Align Technology by 38.9% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,551 shares of the medical equipment provider’s stock worth $2,029,000 after buying an additional 4,359 shares during the last quarter. AE Wealth Management LLC bought a new stake in Align Technology during the third quarter valued at about $650,000. Dana Investment Advisors Inc. purchased a new position in Align Technology in the 3rd quarter worth approximately $9,991,000. Hussman Strategic Advisors Inc. purchased a new position in shares of Align Technology in the third quarter worth $3,156,000. Finally, M&G PLC purchased a new position in shares of Align Technology during the third quarter valued at about $10,904,000. Institutional investors own 88.43% of the company’s stock.

Insider Transactions at Align Technology

In related news, EVP John Morici sold 7,969 shares of Align Technology stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the transaction, the executive vice president owned 8,237 shares in the company, valued at approximately $1,559,346.47. This trade represents a 49.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ALGN shares. Barclays upped their target price on shares of Align Technology from $170.00 to $200.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 25th. Leerink Partners lifted their price objective on shares of Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Evercore upped their target price on Align Technology from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Robert W. Baird set a $218.00 price objective on shares of Align Technology in a report on Thursday, February 5th. Finally, Stifel Nicolaus boosted their target price on shares of Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $198.08.

Align Technology Trading Down 3.2%

Shares of ALGN opened at $169.43 on Wednesday. The firm has a market cap of $12.08 billion, a P/E ratio of 29.93, a PEG ratio of 1.91 and a beta of 1.79. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $208.30. The stock’s 50 day moving average is $175.21 and its two-hundred day moving average is $152.79.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.30. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.44 EPS. Equities research analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

About Align Technology

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.