Argent Capital Management LLC lessened its stake in Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 59.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,590 shares of the medical equipment provider’s stock after selling 73,671 shares during the quarter. Argent Capital Management LLC owned 0.07% of Align Technology worth $10,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in Align Technology by 49.0% in 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 purchasing an additional 866,663 shares during the period. Holocene Advisors LP purchased a new stake in Align Technology during the 3rd quarter valued at $137,287,000. Kayne Anderson Rudnick Investment Management LLC raised its holdings in Align Technology by 4,391.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 488,251 shares of the medical equipment provider’s stock valued at $117,879,000 after buying an additional 477,380 shares during the period. FMR LLC raised 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 valued at $310,736,000 after buying an additional 367,508 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in Align Technology by 96.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock valued at $171,493,000 after buying an additional 330,807 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.
Analyst Ratings Changes
A number of analysts have weighed in on the company. Morgan Stanley reduced their target price on Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Leerink Partnrs raised Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Piper Sandler reduced their price objective 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. Finally, Robert W. Baird reduced their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Align Technology presently has an average rating of “Moderate Buy” and a consensus price target of $268.20.
Align Technology Price Performance
Shares of ALGN opened at $215.78 on Thursday. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40. The stock’s 50-day moving average is $222.28 and its two-hundred day moving average is $228.53. The stock has a market cap of $16.11 billion, a PE ratio of 36.82, a P/E/G ratio of 6.20 and a beta of 1.67.
Align Technology (NASDAQ:ALGN – Get Free Report) last posted 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 company had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. During the same period in the prior year, the company earned $1.62 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year. On average, research analysts anticipate that Align Technology, Inc. will post 7.45 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.
See Also
- Five stocks we like better than Align Technology
- What is a Low P/E Ratio and What Does it Tell Investors?
- Vistra Corp: Could 2025 Continue Its Streak of Outperformance?
- Buy P&G Now, Before It Sets A New All-Time High
- Vertex’s Pain Drug: Big Pharma’s Next Major Success?
- What is the NASDAQ Stock Exchange?
- D-Wave’s Stock Springs Back in the Quantum Computing Race
Receive News & Ratings for Align Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Align Technology and related companies with MarketBeat.com's FREE daily email newsletter.