Duncker Streett & Co. Inc. Cuts Position in Align Technology, Inc. (NASDAQ:ALGN)

Duncker Streett & Co. Inc. reduced its stake in Align Technology, Inc. (NASDAQ:ALGN) by 86.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 101 shares of the medical equipment provider’s stock after selling 620 shares during the period. Duncker Streett & Co. Inc.’s holdings in Align Technology were worth $28,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. KB Financial Partners LLC purchased a new position in Align Technology in the first quarter valued at approximately $26,000. Cornerstone Planning Group LLC purchased a new position in Align Technology in the second quarter valued at approximately $29,000. Huntington National Bank increased its stake in Align Technology by 94.9% in the third quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 56 shares during the last quarter. First Manhattan CO. LLC. increased its stake in Align Technology by 593.8% in the first quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock valued at $37,000 after purchasing an additional 95 shares during the last quarter. Finally, Compagnie Lombard Odier SCmA purchased a new position in Align Technology in the third quarter valued at approximately $61,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALGN has been the topic of several recent analyst reports. SVB Leerink started coverage on shares of Align Technology in a research note on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target on the stock. UBS Group raised their target price on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday. Leerink Partnrs restated a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. The Goldman Sachs Group raised their target price on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. Finally, Piper Sandler raised their target price 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $339.91.

Insider Buying and Selling at Align Technology

In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the sale, the director now owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Emory Wright sold 2,524 shares of Align Technology 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 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 filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Lacob sold 15,000 shares of Align Technology stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the transaction, the director now directly owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,524 shares of company stock valued at $8,403,924. 0.64% of the stock is owned by company insiders.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $300.14 on Thursday. The stock has a fifty day moving average price of $312.61 and a 200 day moving average price of $269.97. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20. The company has a market cap of $22.59 billion, a PE ratio of 51.57, a P/E/G ratio of 5.46 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. The company had revenue of $956.73 million during the quarter, compared to the consensus estimate of $928.57 million. Analysts anticipate that Align Technology, Inc. will post 7.69 earnings per share for the current fiscal year.

About Align Technology

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.