CWM Advisors LLC Reduces Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

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CWM Advisors LLC lowered its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 36.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,565 shares of the medical equipment provider’s stock after selling 879 shares during the quarter. CWM Advisors LLC’s holdings in Align Technology were worth $437,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the company. State Street Corp lifted its stake in Align Technology by 0.4% in the third quarter. State Street Corp now owns 3,075,815 shares of the medical equipment provider’s stock valued at $556,476,000 after buying an additional 10,854 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in shares of Align Technology by 2.0% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 928,648 shares of the medical equipment provider’s stock valued at $168,011,000 after acquiring an additional 18,564 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Align Technology by 14.3% in the 3rd quarter. Fisher Asset Management LLC now owns 321,291 shares of the medical equipment provider’s stock valued at $58,128,000 after acquiring an additional 40,117 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in Align Technology by 7.3% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 318,242 shares of the medical equipment provider’s stock valued at $57,576,000 after purchasing an additional 21,646 shares during the last quarter. Finally, Select Equity Group L.P. purchased a new stake in Align Technology in the 3rd quarter valued at $49,760,000. Institutional investors and hedge funds own 82.08% of the company’s stock.

ALGN has been the topic of several research reports. Stifel Nicolaus raised their price objective on shares of Align Technology from $290.00 to $305.00 and gave the stock a “buy” rating in a research report on Monday, November 18th. Bank of America upped their target price on shares of Align Technology from $220.00 to $240.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. BidaskClub cut shares of Align Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 7th. Wolfe Research upgraded shares of Align Technology from a “peer perform” rating to an “outperform” rating and set a $360.00 target price for the company in a research note on Thursday, January 9th. Finally, Barclays lowered their price target on Align Technology from $300.00 to $272.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Align Technology currently has an average rating of “Buy” and an average target price of $266.08.

In other Align Technology news, Director Yuval Shaked sold 500 shares of Align Technology stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $260.25, for a total value of $130,125.00. Following the sale, the director now owns 841 shares of the company’s stock, valued at approximately $218,870.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Warren S. Thaler sold 1,942 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $250.84, for a total value of $487,131.28. Following the transaction, the director now owns 43,900 shares in the company, valued at approximately $11,011,876. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,199 shares of company stock worth $6,787,761. Company insiders own 1.30% of the company’s stock.

Shares of ALGN opened at $269.98 on Friday. The stock has a market capitalization of $21.28 billion, a P/E ratio of 51.92, a P/E/G ratio of 1.92 and a beta of 2.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.62 and a current ratio of 1.73. Align Technology, Inc. has a 1 year low of $169.84 and a 1 year high of $334.64. The company’s fifty day moving average is $278.30 and its two-hundred day moving average is $234.40.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.14. The company had revenue of $607.30 million during the quarter, compared to analysts’ expectations of $595.29 million. Align Technology had a net margin of 18.28% and a return on equity of 28.76%. The business’s revenue was up 20.2% on a year-over-year basis. During the same quarter last year, the business earned $1.24 EPS. Sell-side analysts predict that Align Technology, Inc. will post 5.14 EPS for the current year.

About Align Technology

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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