Bryn Mawr Capital Management LLC Reduces Position in Align Technology, Inc. (NASDAQ:ALGN)

Bryn Mawr Capital Management LLC trimmed its position in Align Technology, Inc. (NASDAQ:ALGN) by 9.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 928 shares of the medical equipment provider’s stock after selling 92 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Align Technology were worth $254,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Huntington National Bank grew 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 worth $35,000 after purchasing an additional 56 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in Align Technology in the third quarter worth about $61,000. Orion Capital Management LLC acquired a new position in Align Technology in the third quarter worth about $61,000. Operose Advisors LLC acquired a new position in Align Technology in the third quarter worth about $63,000. Finally, Covestor Ltd boosted its stake in Align Technology by 379.5% in the third quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock valued at $64,000 after acquiring an additional 167 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Price Performance

Shares of NASDAQ:ALGN opened at $309.02 on Friday. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $413.20. The stock has a market cap of $23.25 billion, a price-to-earnings ratio of 50.91, a PEG ratio of 5.56 and a beta of 1.65. The stock’s 50 day moving average price is $313.38 and its 200 day moving average price is $270.87.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.78 by $0.13. The firm 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 14.15% and a net margin of 11.80%. On average, sell-side analysts expect that Align Technology, Inc. will post 7.69 EPS for the current year.

Insider Buying and Selling at Align Technology

In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the company’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 transaction, 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 Securities & Exchange Commission, which is available through this link. In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the company’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 transaction, 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 Securities & Exchange Commission, which is available through this link. Also, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,524 shares of company stock valued at $8,403,924. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ALGN. Morgan Stanley lifted their target price on Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a research note on Thursday. SVB Leerink began coverage on Align Technology in a research note on Monday, February 26th. They issued a “market perform” rating and a $310.00 target price for the company. The Goldman Sachs Group lifted their target price on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research note on Friday, February 2nd. Piper Sandler restated an “overweight” rating and issued a $375.00 target price (up from $355.00) on shares of Align Technology in a research note on Thursday. Finally, UBS Group boosted their price objective on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $353.00.

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.