ZWJ Investment Counsel Inc. Sells 84 Shares of Align Technology, Inc. (NASDAQ:ALGN)

ZWJ Investment Counsel Inc. lessened its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,500 shares of the medical equipment provider’s stock after selling 84 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Align Technology were worth $411,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ALGN. Andrew Hill Investment Advisors Inc. bought a new stake in shares of Align Technology during the fourth quarter worth $717,000. Xponance Inc. grew its stake in Align Technology by 10.5% in the fourth quarter. Xponance Inc. now owns 23,141 shares of the medical equipment provider’s stock worth $6,341,000 after purchasing an additional 2,198 shares in the last quarter. Ninety One North America Inc. increased its holdings in Align Technology by 2.9% during the 4th quarter. Ninety One North America Inc. now owns 14,322 shares of the medical equipment provider’s stock worth $3,924,000 after purchasing an additional 403 shares during the period. Federated Hermes Inc. raised its position in Align Technology by 1,783.4% during the 4th quarter. Federated Hermes Inc. now owns 107,411 shares of the medical equipment provider’s stock valued at $29,431,000 after purchasing an additional 101,708 shares in the last quarter. Finally, Slow Capital Inc. grew its position in shares of Align Technology by 2.8% during the 4th quarter. Slow Capital Inc. now owns 9,543 shares of the medical equipment provider’s stock worth $2,615,000 after buying an additional 262 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Trading Down 0.8 %

Shares of NASDAQ ALGN traded down $2.36 during midday trading on Friday, reaching $298.98. The company had a trading volume of 520,396 shares, compared to its average volume of 520,035. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $413.20. The business’s 50-day simple moving average is $312.79 and its 200 day simple moving average is $270.18. The stock has a market cap of $22.50 billion, a P/E ratio of 51.37, a P/E/G ratio of 5.40 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.13. The company had revenue of $956.73 million during the quarter, compared to analyst estimates of $928.57 million. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. Analysts predict that Align Technology, Inc. will post 7.69 earnings per share for the current year.

Insider Activity at Align Technology

In related news, EVP Emory Wright sold 2,524 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the transaction, the director now directly owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The disclosure for this sale can be found here. Insiders have sold a total of 27,524 shares of company stock worth $8,403,924 over the last quarter. Insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on ALGN shares. Stifel Nicolaus upped their price objective on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. The Goldman Sachs Group increased their target price on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. UBS Group boosted their price target on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Finally, SVB Leerink assumed coverage on Align Technology in a research report on Monday, February 26th. They set a “market perform” rating and a $310.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $344.45.

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.