Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 2.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 158,503 shares of the medical equipment provider’s stock after selling 3,589 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Align Technology were worth $33,049,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC raised its stake in shares of Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 107 shares during the period. Neo Ivy Capital Management purchased a new stake in Align Technology in the 3rd quarter worth $32,000. Versant Capital Management Inc raised its position in Align Technology by 212.2% during the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 157 shares during the period. Quarry LP lifted its holdings in Align Technology by 74.8% during the third quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 95 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of Align Technology in the third quarter valued at about $77,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Trading Down 0.7 %

Shares of ALGN stock opened at $210.52 on Wednesday. Align Technology, Inc. has a twelve month low of $196.09 and a twelve month high of $335.40. The stock has a market cap of $15.72 billion, a price-to-earnings ratio of 37.53, a PEG ratio of 4.79 and a beta of 1.67. The company’s 50-day moving average price is $220.81 and its 200-day moving average price is $225.42.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. As a group, equities research analysts predict that Align Technology, Inc. will post 8.09 EPS for the current year.

Analyst Ratings Changes

ALGN has been the subject of several research analyst reports. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Bank of America increased their target price on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Robert W. Baird reduced their price objective on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Evercore ISI lifted their target price on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Align Technology presently has an average rating of “Moderate Buy” and an average target price of $271.40.

Align Technology Company 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.