Argent Capital Management LLC Has $10.55 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Argent Capital Management LLC trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 59.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 50,590 shares of the medical equipment provider’s stock after selling 73,671 shares during the period. Argent Capital Management LLC’s holdings in Align Technology were worth $10,549,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its holdings in shares of Align Technology by 54.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 189,022 shares of the medical equipment provider’s stock worth $39,413,000 after buying an additional 66,756 shares in the last quarter. Fulcrum Capital LLC grew its holdings in Align Technology by 5.6% during the 4th quarter. Fulcrum Capital LLC now owns 9,212 shares of the medical equipment provider’s stock worth $1,921,000 after acquiring an additional 489 shares during the period. Czech National Bank grew its holdings in Align Technology by 6.4% during the 4th quarter. Czech National Bank now owns 15,216 shares of the medical equipment provider’s stock worth $3,173,000 after acquiring an additional 913 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Align Technology by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider’s stock worth $1,626,000 after acquiring an additional 91 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Align Technology by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock worth $56,870,000 after purchasing an additional 9,139 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Trading Up 2.5 %

Align Technology stock opened at $215.78 on Thursday. The firm’s 50 day simple moving average is $222.28 and its 200 day simple moving average is $228.53. The firm has a market capitalization of $16.11 billion, a PE ratio of 36.82, a price-to-earnings-growth ratio of 6.20 and a beta of 1.67. Align Technology, Inc. has a 1-year low of $196.09 and a 1-year high of $335.40.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $990.05 million. During the same quarter in the prior year, the firm earned $1.62 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. Research analysts forecast that Align Technology, Inc. will post 7.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on ALGN. Morgan Stanley cut their price objective on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird lowered their price objective on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Mizuho initiated coverage on shares of Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective on the stock. Bank of America upped 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, Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $268.20.

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.