Farther Finance Advisors LLC Has $97,000 Position in Align Technology, Inc. (NASDAQ:ALGN)

Farther Finance Advisors LLC cut its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 22.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 464 shares of the medical equipment provider’s stock after selling 132 shares during the quarter. Farther Finance Advisors LLC’s holdings in Align Technology were worth $97,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALGN. Wellington Management Group LLP lifted its holdings in Align Technology by 49.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after buying an additional 866,663 shares during the period. Holocene Advisors LP acquired a new position in Align Technology during the 3rd quarter worth about $137,287,000. FMR LLC lifted its holdings in Align Technology by 43.0% during the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after buying an additional 367,508 shares during the period. Point72 Asset Management L.P. raised its position in shares of Align Technology by 96.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock worth $171,493,000 after acquiring an additional 330,807 shares in the last quarter. Finally, Meridiem Investment Management Ltd. raised its position in shares of Align Technology by 63.7% in the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock worth $159,470,000 after acquiring an additional 297,472 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on ALGN shares. Piper Sandler reissued an “overweight” rating and issued a $235.00 price objective (down from $270.00) on shares of Align Technology in a research report on Tuesday. Evercore ISI lifted their price objective on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Bank of America lifted their price objective on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Jefferies Financial Group decreased their target price on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Finally, Wells Fargo & Company started coverage on Align Technology in a research report on Friday, February 14th. They issued an “overweight” rating and a $255.00 target price for the company. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $266.73.

Align Technology Stock Performance

Shares of ALGN opened at $168.61 on Friday. The stock has a 50 day moving average price of $198.78 and a two-hundred day moving average price of $216.64. The firm has a market capitalization of $12.41 billion, a P/E ratio of 30.06, a P/E/G ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 52 week low of $158.13 and a 52 week high of $331.64.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. On average, equities analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current year.

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.