Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI trimmed its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,900 shares of the medical equipment provider’s stock after selling 158 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Align Technology were worth $738,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Achmea Investment Management B.V. increased its position in 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 purchasing an additional 339 shares during the period. Tidal Investments LLC grew its holdings in Align Technology by 122.9% during the first quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock worth $1,445,000 after acquiring an additional 2,430 shares during the period. Swedbank AB raised its position in Align Technology by 2.0% in the second quarter. Swedbank AB now owns 299,115 shares of the medical equipment provider’s stock worth $72,215,000 after acquiring an additional 6,005 shares in the last quarter. Baker Avenue Asset Management LP acquired a new stake in Align Technology in the third quarter valued at $4,250,000. Finally, Cetera Investment Advisers boosted its position in shares of Align Technology by 914.2% during the 1st quarter. Cetera Investment Advisers now owns 12,627 shares of the medical equipment provider’s stock worth $4,140,000 after purchasing an additional 11,382 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ALGN shares. Morgan Stanley cut their price target on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Evercore ISI reduced their price target on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Stifel Nicolaus lowered their price target on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Finally, StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, Align Technology has a consensus rating of “Hold” and a consensus price target of $276.38.

Align Technology Stock Performance

Align Technology stock opened at $225.89 on Friday. 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 fifty day moving average of $228.54 and a two-hundred day moving average of $238.16. The company has a market capitalization of $16.86 billion, a price-to-earnings ratio of 38.55, a PEG ratio of 5.77 and a beta of 1.65.

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