Altfest L J & Co. Inc. Sells 367 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Altfest L J & Co. Inc. decreased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 15.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,021 shares of the medical equipment provider’s stock after selling 367 shares during the period. Altfest L J & Co. Inc.’s holdings in Align Technology were worth $554,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently modified their holdings of the business. KB Financial Partners LLC acquired a new position in Align Technology in the 1st quarter worth about $26,000. Cornerstone Planning Group LLC acquired a new stake in Align Technology in the second quarter valued at $29,000. First Manhattan CO. LLC. raised its position in Align Technology by 593.8% during the 1st quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 95 shares during the last quarter. Huntington National Bank lifted its holdings in Align Technology by 94.9% during the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 56 shares during the period. Finally, ST Germain D J Co. Inc. bought a new stake in shares of Align Technology in the 2nd quarter valued at about $44,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Trading Down 0.2 %

NASDAQ ALGN traded down $0.73 during trading hours on Thursday, hitting $327.17. The company’s stock had a trading volume of 145,727 shares, compared to its average volume of 779,790. The company’s 50-day simple moving average is $297.09 and its two-hundred day simple moving average is $269.20. The company has a market capitalization of $24.57 billion, a PE ratio of 56.25, a price-to-earnings-growth ratio of 5.76 and a beta of 1.65. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $413.20.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.13. The company had revenue of $956.73 million for the quarter, compared to analysts’ expectations of $928.57 million. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. Research analysts anticipate that Align Technology, Inc. will post 7.65 EPS for the current fiscal year.

Insider Activity

In other Align Technology news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the transaction, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph Lacob sold 10,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the transaction, the director now owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. The disclosure for this sale can be found here. Insiders sold a total of 27,524 shares of company stock worth $8,403,924 over the last quarter. Insiders own 0.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Stifel Nicolaus upped their target price on Align Technology from $340.00 to $350.00 and gave the company a “buy” rating in a report on Friday, March 15th. The Goldman Sachs Group increased their price target on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a report on Friday, February 2nd. Piper Sandler raised their price objective on shares of Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. UBS Group increased their target price on shares of Align Technology from $200.00 to $260.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Finally, Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $334.45.

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.