WealthTrust Axiom LLC Sells 950 Shares of Align Technology, Inc. (NASDAQ:ALGN)

WealthTrust Axiom LLC cut its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 49.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 974 shares of the medical equipment provider’s stock after selling 950 shares during the period. WealthTrust Axiom LLC’s holdings in Align Technology were worth $267,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Align Technology by 2.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,228,875 shares of the medical equipment provider’s stock valued at $375,200,000 after purchasing an additional 29,497 shares in the last quarter. Morgan Stanley increased its holdings in shares of Align Technology by 9.8% in the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock valued at $310,866,000 after acquiring an additional 90,581 shares during the period. Rhenman & Partners Asset Management AB purchased a new position in shares of Align Technology in the 3rd quarter valued at $305,000. Invesco Ltd. increased its holdings in shares of Align Technology by 15.4% in the 3rd quarter. Invesco Ltd. now owns 960,271 shares of the medical equipment provider’s stock valued at $293,190,000 after acquiring an additional 128,273 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Align Technology by 2.7% in the 3rd quarter. Northern Trust Corp now owns 831,469 shares of the medical equipment provider’s stock valued at $253,864,000 after acquiring an additional 21,490 shares during the period. 88.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ALGN shares. UBS Group lifted their price target on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. Stifel Nicolaus lifted their price target on Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 18th. The Goldman Sachs Group boosted their target price on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research note on Friday, February 2nd. Finally, Robert W. Baird boosted their target price on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $353.00.

Align Technology Stock Performance

Shares of ALGN opened at $282.38 on Wednesday. The stock has a 50-day moving average of $312.68 and a two-hundred day moving average of $271.20. Align Technology, Inc. has a one year low of $176.34 and a one year high of $413.20. The stock has a market cap of $21.25 billion, a P/E ratio of 46.52, a P/E/G ratio of 5.65 and a beta of 1.65.

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, topping analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. The company had revenue of $956.73 million during the quarter, compared to analysts’ expectations of $928.57 million. Analysts predict that Align Technology, Inc. will post 7.85 EPS for the current fiscal year.

Insiders Place Their Bets

In other Align Technology news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction dated 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 sale, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the transaction, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the completion of the transaction, the director now directly owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,524 shares of company stock valued at $8,403,924. 0.62% of the stock is owned by company insiders.

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.