Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 11,748 Shares of Align Technology, Inc. $ALGN

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 150,956 shares of the medical equipment provider’s stock after selling 11,748 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.21% of Align Technology worth $20,530,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Atria Investments Inc grew its stake in Align Technology by 4.9% during the second quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider’s stock worth $298,000 after buying an additional 74 shares in the last quarter. IFP Advisors Inc lifted its holdings in shares of Align Technology by 5.7% during the 2nd quarter. IFP Advisors Inc now owns 1,427 shares of the medical equipment provider’s stock worth $270,000 after acquiring an additional 77 shares during the period. Rothschild Investment LLC boosted its position in shares of Align Technology by 140.3% during the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 87 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Align Technology by 42.2% during the 2nd quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider’s stock worth $59,000 after acquiring an additional 92 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in Align Technology by 0.3% in the second quarter. Royal London Asset Management Ltd. now owns 31,629 shares of the medical equipment provider’s stock valued at $5,988,000 after acquiring an additional 93 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on ALGN. Wall Street Zen raised Align Technology from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. Barclays started coverage on shares of Align Technology in a research note on Monday, December 8th. They issued an “equal weight” rating and a $170.00 price target on the stock. Piper Sandler reiterated an “overweight” rating and set a $200.00 price objective (up from $190.00) on shares of Align Technology in a research report on Thursday, October 30th. Finally, Zacks Research upgraded shares of Align Technology from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 30th. Six investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $172.18.

Align Technology Price Performance

Shares of Align Technology stock opened at $172.79 on Monday. Align Technology, Inc. has a one year low of $122.00 and a one year high of $237.23. The firm has a market capitalization of $12.40 billion, a price-to-earnings ratio of 33.49, a PEG ratio of 1.95 and a beta of 1.83. The business has a 50-day simple moving average of $151.60 and a 200 day simple moving average of $151.78.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.23. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The business had revenue of $995.69 million during the quarter, compared to analyst estimates of $980.75 million. During the same quarter in the previous year, the business posted $2.35 EPS. Align Technology’s quarterly revenue was up 1.8% on a year-over-year basis. On average, sell-side analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.