Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Ieq Capital LLC

Ieq Capital LLC decreased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 1.0% in the second quarter, Holdings Channel reports. The firm owned 35,415 shares of the medical equipment provider’s stock after selling 357 shares during the period. Ieq Capital LLC’s holdings in Align Technology were worth $8,550,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Gryphon Financial Partners LLC boosted its holdings in Align Technology by 31.0% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,396 shares of the medical equipment provider’s stock worth $383,000 after acquiring an additional 330 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Align Technology by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 213,667 shares of the medical equipment provider’s stock valued at $58,548,000 after purchasing an additional 7,266 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in Align Technology by 34.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 12,546 shares of the medical equipment provider’s stock worth $3,438,000 after purchasing an additional 3,185 shares in the last quarter. Coldstream Capital Management Inc. grew its position in Align Technology by 19.2% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,941 shares of the medical equipment provider’s stock worth $532,000 after purchasing an additional 313 shares during the last quarter. Finally, D.A. Davidson & CO. increased its stake in Align Technology by 4.5% during the 4th quarter. D.A. Davidson & CO. now owns 4,644 shares of the medical equipment provider’s stock valued at $1,272,000 after purchasing an additional 200 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Trading Up 1.6 %

Align Technology stock opened at $257.17 on Friday. The firm has a market cap of $19.36 billion, a PE ratio of 42.37, a P/E/G ratio of 5.13 and a beta of 1.64. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $335.40. The stock’s 50 day simple moving average is $232.30 and its two-hundred day simple moving average is $265.24.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the firm posted $1.73 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts forecast that Align Technology, Inc. will post 7.61 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ALGN. Robert W. Baird dropped their price objective on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. OTR Global reiterated a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4th. Morgan Stanley reduced their price objective on Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Evercore ISI reduced their price target on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $306.88.

Insider Activity

In other Align Technology news, Director C Raymond Larkin, Jr. purchased 6,500 shares of Align Technology stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the acquisition, the director now owns 28,247 shares of the company’s stock, valued at approximately $6,647,366.51. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.62% of the company’s stock.

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.