Everence Capital Management Inc. Lowers Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Everence Capital Management Inc. lowered its stake in Align Technology, Inc. (NASDAQ:ALGN) by 38.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,550 shares of the medical equipment provider’s stock after selling 950 shares during the quarter. Everence Capital Management Inc.’s holdings in Align Technology were worth $425,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ALGN. KB Financial Partners LLC purchased a new stake in Align Technology in the 1st quarter worth $26,000. Cornerstone Planning Group LLC purchased a new stake in Align Technology in the 2nd quarter worth $29,000. Huntington National Bank lifted its stake in Align Technology by 94.9% in the 3rd 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. First Manhattan CO. LLC. lifted its stake in Align Technology by 593.8% in the 1st quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 95 shares in the last quarter. Finally, Compagnie Lombard Odier SCmA purchased a new stake in Align Technology in the 3rd quarter worth $61,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Trading Down 1.6 %

Shares of NASDAQ:ALGN opened at $300.14 on Thursday. The company has a market capitalization of $22.59 billion, a price-to-earnings ratio of 51.57, a PEG ratio of 5.49 and a beta of 1.65. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $413.20. The firm’s 50-day moving average is $312.61 and its 200 day moving average is $269.97.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, beating the consensus estimate of $1.78 by $0.13. The company had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. As a group, equities analysts forecast that Align Technology, Inc. will post 7.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other Align Technology news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Align Technology news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the transaction, the director now owns 146,994 shares in the company, valued at $46,010,591.94. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock worth $8,403,924 in the last three months. Corporate insiders own 0.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALGN. SVB Leerink assumed 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. Piper Sandler upped their target price on shares of Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research report on Thursday, March 14th. Stifel Nicolaus upped their target price on shares of Align Technology from $340.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, March 15th. Leerink Partnrs restated a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. Finally, UBS Group upped their target price on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $339.91.

Align Technology 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.