Riverbridge Partners LLC Sells 119,935 Shares of Align Technology, Inc. $ALGN

Riverbridge Partners LLC decreased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 62.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 73,297 shares of the medical equipment provider’s stock after selling 119,935 shares during the quarter. Riverbridge Partners LLC’s holdings in Align Technology were worth $11,445,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ALGN. Sentry Investment Management LLC increased its stake in shares of Align Technology by 73.1% in the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 79 shares during the period. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Align Technology during the third quarter worth $26,000. Quent Capital LLC acquired a new position in shares of Align Technology during the third quarter valued at $30,000. TD Private Client Wealth LLC lifted its stake in shares of Align Technology by 135.6% during the third quarter. TD Private Client Wealth LLC now owns 238 shares of the medical equipment provider’s stock valued at $30,000 after acquiring an additional 137 shares during the period. Finally, Miller Global Investments LLC bought a new position in Align Technology in the fourth quarter valued at about $31,000. 88.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ALGN has been the subject of a number of research reports. Evercore lifted their price objective on Align Technology from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Weiss Ratings raised shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 16th. Mizuho lifted their price target on shares of Align Technology from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Stifel Nicolaus boosted their price target on shares of Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Finally, Barclays upgraded shares of Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 price objective on the stock in a report on Tuesday, March 17th. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Align Technology presently has an average rating of “Moderate Buy” and an average price target of $198.08.

Insiders Place Their Bets

In related news, EVP John Morici sold 7,969 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the completion of the transaction, the executive vice president owned 8,237 shares in the company, valued at approximately $1,559,346.47. The trade was a 49.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is owned by insiders.

Align Technology Trading Down 1.6%

NASDAQ:ALGN opened at $177.33 on Friday. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30. The business’s 50-day moving average price is $177.25 and its two-hundred day moving average price is $155.48. The firm has a market capitalization of $12.64 billion, a price-to-earnings ratio of 31.33, a PEG ratio of 1.96 and a beta of 1.79.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.30. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.44 EPS. Sell-side analysts predict that Align Technology, Inc. will post 7.98 earnings per share 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.