Moody National Bank Trust Division Sells 116 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Moody National Bank Trust Division decreased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,219 shares of the medical equipment provider’s stock after selling 116 shares during the quarter. Moody National Bank Trust Division’s holdings in Align Technology were worth $463,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC raised its stake in Align Technology by 10,700.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 107 shares during the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in Align Technology during the 2nd quarter worth about $31,000. Quarry LP raised its position in shares of Align Technology by 53.0% in the 2nd quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 44 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Align Technology in the 3rd quarter valued at about $32,000. Finally, CVA Family Office LLC boosted its position in shares of Align Technology by 85.2% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Performance

ALGN stock opened at $210.46 on Wednesday. The company has a market capitalization of $15.71 billion, a P/E ratio of 35.91, a price-to-earnings-growth ratio of 6.20 and a beta of 1.67. Align Technology, Inc. has a 52-week low of $196.09 and a 52-week high of $335.40. The business has a 50-day simple moving average of $222.28 and a two-hundred day simple moving average of $228.53.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, topping 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 business had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. During the same quarter in the prior year, the company posted $1.62 earnings per share. Align Technology’s revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ALGN shares. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Evercore ISI lowered their price objective on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Bank of America lifted their price target on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Finally, Piper Sandler reduced their target price on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $268.20.

Align Technology Company 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.