Commonwealth Equity Services LLC Has $1.20 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

Commonwealth Equity Services LLC lowered its position in Align Technology, Inc. (NASDAQ:ALGN) by 16.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,757 shares of the medical equipment provider’s stock after selling 1,119 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Align Technology were worth $1,200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in ALGN. True Wealth Design LLC raised its holdings in shares of Align Technology by 10,700.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 107 shares during the period. Neo Ivy Capital Management bought a new position in Align Technology during the third quarter worth about $32,000. Private Trust Co. NA increased its position in Align Technology by 113.4% during the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 93 shares during the last quarter. Versant Capital Management Inc raised its stake in Align Technology by 212.2% in the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after buying an additional 157 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Align Technology in the fourth quarter valued at approximately $52,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Down 3.1 %

Shares of NASDAQ:ALGN opened at $159.21 on Monday. Align Technology, Inc. has a 12-month low of $157.57 and a 12-month high of $331.64. The company’s 50 day moving average price is $193.72 and its two-hundred day moving average price is $214.48. The firm has a market cap of $11.72 billion, a PE ratio of 28.38, a PEG ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (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, research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on ALGN. Morgan Stanley decreased their target price on Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Wells Fargo & Company assumed coverage on shares of Align Technology in a research report on Friday, February 14th. They issued an “overweight” rating and a $255.00 price objective on the stock. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Jefferies Financial Group lowered their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Align Technology currently has an average rating of “Moderate Buy” and an average target price of $262.64.

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.