Candriam S.C.A. Sells 9,163 Shares of Align Technology, Inc. $ALGN

Candriam S.C.A. lowered its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 15.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,263 shares of the medical equipment provider’s stock after selling 9,163 shares during the period. Candriam S.C.A. owned about 0.07% of Align Technology worth $6,169,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Sentry Investment Management LLC boosted its position in shares of Align Technology by 73.1% during the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in Align Technology in the third quarter worth about $26,000. Rothschild Investment LLC lifted its stake in 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 purchasing an additional 87 shares during the period. True Wealth Design LLC boosted its holdings in 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 valued at $29,000 after purchasing an additional 153 shares in the last quarter. Finally, Quent Capital LLC bought a new stake in shares of Align Technology in the 3rd quarter valued at approximately $30,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ALGN. Jefferies Financial Group boosted their price target on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Leerink Partners lifted their price objective on Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. UBS Group upped their target price on shares of Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Stifel Nicolaus increased their target price on shares of Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Finally, Morgan Stanley lifted their price target on shares of Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $195.92.

Align Technology Stock Performance

NASDAQ:ALGN opened at $197.51 on Thursday. The company has a market cap of $14.17 billion, a price-to-earnings ratio of 34.90, a P/E/G ratio of 2.15 and a beta of 1.84. The stock’s fifty day moving average price is $165.94 and its two-hundred day moving average price is $148.27. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $208.79.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.30. The company had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The firm’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.44 earnings per share. On average, equities analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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.