Corient Private Wealth LLC Sells 1,449 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Corient Private Wealth LLC lessened its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,211 shares of the medical equipment provider’s stock after selling 1,449 shares during the quarter. Corient Private Wealth LLC’s holdings in Align Technology were worth $3,380,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC lifted its position in shares of Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 107 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Align Technology in the third quarter worth $32,000. Picton Mahoney Asset Management lifted its position in shares of Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 58 shares in the last quarter. Private Trust Co. NA lifted its position in shares of Align Technology by 113.4% in the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 93 shares in the last quarter. Finally, Quarry LP increased 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 worth $56,000 after buying an additional 95 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group lowered their target price on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Evercore ISI boosted their target price on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Piper Sandler restated an “overweight” rating and set a $235.00 target price (down from $270.00) on shares of Align Technology in a report on Tuesday, March 18th. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $235.00 to $280.00 in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Align Technology currently has an average rating of “Moderate Buy” and a consensus target price of $266.73.

Align Technology Trading Down 0.1 %

ALGN stock opened at $168.61 on Friday. The firm has a 50-day moving average price of $198.78 and a 200-day moving average price of $216.57. Align Technology, Inc. has a 12 month low of $158.13 and a 12 month high of $331.64. The stock has a market capitalization of $12.41 billion, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) 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 analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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.