Heritage Investors Management Corp Sells 1,052 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Heritage Investors Management Corp reduced its stake in Align Technology, Inc. (NASDAQ:ALGN) by 7.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,759 shares of the medical equipment provider’s stock after selling 1,052 shares during the quarter. Heritage Investors Management Corp’s holdings in Align Technology were worth $2,660,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ALGN. True Wealth Design LLC raised its holdings in Align Technology by 10,700.0% in the 3rd 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 during the period. Neo Ivy Capital Management bought a new position in Align Technology in the 3rd quarter worth $32,000. Versant Capital Management Inc raised its holdings in Align Technology by 212.2% in the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after purchasing an additional 157 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Align Technology in the 4th quarter worth $52,000. Finally, Quarry LP increased its stake in Align Technology by 74.8% in the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 95 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Trading Down 2.8 %

ALGN opened at $185.77 on Friday. The firm has a market cap of $13.87 billion, a P/E ratio of 33.11, a P/E/G ratio of 2.24 and a beta of 1.67. Align Technology, Inc. has a 12 month low of $183.26 and a 12 month high of $335.40. The stock has a 50-day moving average of $212.44 and a 200 day moving average of $223.57.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. On average, research analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALGN has been the subject of a number of analyst reports. Evercore ISI increased their price target on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Piper Sandler cut their price target on Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $269.91.

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.