Nisa Investment Advisors LLC Cuts Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Nisa Investment Advisors LLC lessened its holdings in Align Technology, Inc. (NASDAQ:ALGNFree Report) by 5.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 19,113 shares of the medical equipment provider’s stock after selling 1,144 shares during the period. Nisa Investment Advisors LLC’s holdings in Align Technology were worth $3,985,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC grew its holdings in Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 107 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Align Technology in the third quarter valued at $32,000. Quarry LP increased its position in Align Technology by 53.0% in the second quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 44 shares during the last quarter. University of Texas Texas AM Investment Management Co. purchased a new stake in Align Technology during the second quarter valued at $31,000. Finally, CVA Family Office LLC lifted its position in Align Technology by 85.2% during the third quarter. CVA Family Office LLC now owns 150 shares of the medical equipment provider’s stock valued at $38,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

Shares of ALGN opened at $233.30 on Friday. The company has a 50 day moving average price of $223.06 and a 200-day moving average price of $227.81. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40. The stock has a market capitalization of $17.42 billion, a PE ratio of 39.81, a PEG ratio of 5.14 and a beta of 1.67.

Align Technology (NASDAQ:ALGNGet Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.04. The firm had revenue of $977.87 million during the quarter, compared to analysts’ expectations of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.62 EPS. Equities research analysts forecast that Align Technology, Inc. will post 7.47 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on ALGN shares. Evercore ISI reduced their target price on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Bank of America boosted their target price on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Mizuho started coverage on shares of Align Technology in a report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 target price on the stock. Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $267.45.

View Our Latest Stock Analysis on ALGN

Align Technology Profile

(Free Report)

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.

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

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