Oppenheimer & Co. Inc. Sells 427 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Oppenheimer & Co. Inc. trimmed its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 3.8% in the 3rd quarter, Holdings Channel reports. The fund owned 10,795 shares of the medical equipment provider’s stock after selling 427 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Align Technology were worth $2,745,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ALGN. LRI Investments LLC purchased a new stake in Align Technology during the 1st quarter valued at about $29,000. Cullen Frost Bankers Inc. boosted its holdings in shares of Align Technology by 854.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 94 shares during the last quarter. Rothschild Investment LLC bought a new stake in Align Technology in the 2nd quarter worth approximately $26,000. Innealta Capital LLC purchased a new stake in Align Technology during the 2nd quarter valued at $26,000. Finally, Versant Capital Management Inc grew its holdings in shares of Align Technology by 547.1% in the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 93 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALGN has been the subject of several recent research reports. Evercore ISI cut their target price 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 target price on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Piper Sandler reduced their target price on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Finally, Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $276.38.

Align Technology Stock Performance

NASDAQ:ALGN opened at $223.69 on Friday. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40. The firm has a market capitalization of $16.70 billion, a PE ratio of 38.17, a PEG ratio of 5.57 and a beta of 1.65. The stock’s fifty day moving average is $228.85 and its 200 day moving average is $240.23.

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 analysts’ consensus estimates 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 prior year, the firm posted $1.62 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. Equities analysts forecast that Align Technology, Inc. will post 7.45 EPS 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.