Align Technology, Inc. $ALGN Stock: Washington Trust Advisors Inc. Trims Position

Washington Trust Advisors Inc. lowered its position in Align Technology, Inc. (NASDAQ:ALGN) by 91.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 937 shares of the medical equipment provider’s stock after selling 10,270 shares during the period. Washington Trust Advisors Inc.’s holdings in Align Technology were worth $134,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ALGN. Yousif Capital Management LLC grew its stake in Align Technology by 1,356.9% in the third quarter. Yousif Capital Management LLC now owns 132,445 shares of the medical equipment provider’s stock worth $17,648,000 after purchasing an additional 123,354 shares during the period. Compass Wealth Management LLC bought a new position in Align Technology in the third quarter worth $7,377,000. Howland Capital Management LLC raised its holdings in Align Technology by 28,804.9% in the third quarter. Howland Capital Management LLC now owns 403,801 shares of the medical equipment provider’s stock worth $53,445,000 after purchasing an additional 402,404 shares in the last quarter. Isthmus Partners LLC raised its holdings in Align Technology by 3.7% in the third quarter. Isthmus Partners LLC now owns 2,601 shares of the medical equipment provider’s stock worth $378,000 after purchasing an additional 92 shares in the last quarter. Finally, Root Financial Partners LLC purchased a new position in Align Technology during the third quarter valued at $405,000. Institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. UBS Group restated a “neutral” rating and set a $189.00 target price on shares of Align Technology in a report on Thursday, July 23rd. Mizuho reduced their target price on shares of Align Technology from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday. Robert W. Baird reiterated a “neutral” rating and issued a $162.00 price target (down from $218.00) on shares of Align Technology in a research note on Thursday, October 15th. Wall Street Zen cut shares of Align Technology from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings raised shares of Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, October 9th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $190.93.

Align Technology Stock Down 0.6%

Shares of ALGN opened at $154.51 on Friday. The stock has a market cap of $11.07 billion, a P/E ratio of 26.87, a P/E/G ratio of 1.65 and a beta of 1.67. The business’s 50 day moving average price is $151.62 and its 200-day moving average price is $166.55. Align Technology, Inc. has a 52 week low of $130.23 and a 52 week high of $200.43.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.02. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. Align Technology had a return on equity of 15.86% and a net margin of 9.99%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the company earned $2.49 EPS. On average, equities analysts anticipate that Align Technology, Inc. will post 9.27 EPS for the current year.

About Align Technology

Align Technology, Inc is a global medical device company focused on digital orthodontics and restorative dentistry. Founded in 1997, the company is best known for the Invisalign system, a series of clear, removable aligners designed to gradually move teeth and treat a range of orthodontic conditions.

Align’s products and services also include digital scanning and dental practice solutions. Its iTero intraoral scanners create digital impressions for orthodontic and restorative procedures, while its exocad business develops computer-aided design and computer-aided manufacturing software used by dental laboratories, clinicians and other dental professionals.

The company serves orthodontists, dentists, dental laboratories and patients in numerous markets worldwide.