Tidal Investments LLC Sells 415 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Tidal Investments LLC decreased its position in Align Technology, Inc. (NASDAQ:ALGN) by 12.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,947 shares of the medical equipment provider’s stock after selling 415 shares during the period. Tidal Investments LLC’s holdings in Align Technology were worth $749,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. grew its position in shares of Align Technology by 3.4% during the 2nd quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider’s stock worth $2,495,000 after buying an additional 339 shares during the period. Baker Avenue Asset Management LP bought a new position in Align Technology in the third quarter valued at approximately $4,250,000. Swedbank AB grew its holdings in Align Technology by 30.1% during the 3rd quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock worth $98,960,000 after acquiring an additional 90,000 shares during the period. KBC Group NV raised its position in shares of Align Technology by 11.8% during the 3rd quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock valued at $13,595,000 after acquiring an additional 5,663 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its stake in shares of Align Technology by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock valued at $26,900,000 after purchasing an additional 2,717 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Price Performance

ALGN opened at $211.06 on Friday. The company has a market capitalization of $15.76 billion, a price-to-earnings ratio of 36.02, a P/E/G ratio of 6.20 and a beta of 1.66. The business’s 50-day moving average price is $222.95 and its two-hundred day moving average price is $233.09. Align Technology, Inc. has a 1 year low of $196.09 and a 1 year high of $335.40.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The firm had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. During the same quarter in the previous year, the business posted $1.62 EPS. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. Sell-side analysts anticipate that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALGN has been the subject of a number of analyst reports. Mizuho initiated coverage on Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Robert W. Baird cut their price target on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Finally, Evercore ISI cut 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. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Align Technology has an average rating of “Hold” and an average price target of $271.20.

About Align Technology

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.