Align Technology, Inc. $ALGN Position Trimmed by Investment House LLC

Investment House LLC decreased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 18.2% in the third quarter, Holdings Channel.com reports. The firm owned 66,128 shares of the medical equipment provider’s stock after selling 14,674 shares during the period. Investment House LLC’s holdings in Align Technology were worth $9,584,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in ALGN. Blue Trust Inc. boosted its position in shares of Align Technology by 77.5% in the 1st quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 69 shares in the last quarter. Hollencrest Capital Management purchased a new stake in shares of Align Technology in the first quarter worth $34,000. Osterweis Capital Management Inc. purchased a new stake in shares of Align Technology in the second quarter worth $36,000. Global Retirement Partners LLC purchased a new position in shares of Align Technology in the 2nd quarter worth about $38,000. Finally, Bessemer Group Inc. raised its position in shares of Align Technology by 37.2% in the 1st quarter. Bessemer Group Inc. now owns 247 shares of the medical equipment provider’s stock worth $43,000 after purchasing an additional 67 shares during the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Trading Up 2.7%

Shares of ALGN opened at $155.51 on Friday. The firm has a fifty day simple moving average of $152.16 and a two-hundred day simple moving average of $166.63. The firm has a market cap of $11.14 billion, a PE ratio of 27.05, a P/E/G ratio of 1.62 and a beta of 1.67. Align Technology, Inc. has a 1-year low of $130.23 and a 1-year high of $200.43.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $2.64 EPS for the quarter, topping the consensus estimate 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%. Align Technology’s revenue was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.49 earnings per share. As a group, research analysts forecast that Align Technology, Inc. will post 9.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALGN has been the topic of several recent analyst reports. Robert W. Baird reissued a “neutral” rating and set a $162.00 price objective (down from $218.00) on shares of Align Technology in a research report on Thursday, October 15th. Raymond James Financial reaffirmed a “buy” rating on shares of Align Technology in a report on Monday, October 5th. BMO Capital Markets assumed coverage on shares of Align Technology in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $209.00 target price on the stock. Wall Street Zen cut shares of Align Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Weiss Ratings upgraded shares of Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $190.93.

Align Technology Company Profile

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.