Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Annandale Capital LLC

Annandale Capital LLC reduced its stake in Align Technology, Inc. (NASDAQ:ALGN) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,233 shares of the medical equipment provider’s stock after selling 79 shares during the period. Annandale Capital LLC’s holdings in Align Technology were worth $1,091,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Picton Mahoney Asset Management boosted its position in Align Technology by 69.9% during the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 58 shares during the period. Neo Ivy Capital Management bought a new position in shares of Align Technology during the third quarter worth about $32,000. Private Trust Co. NA grew its position in shares of Align Technology by 113.4% during the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 93 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Align Technology by 212.2% in the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 157 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in Align Technology during the 4th quarter valued at about $52,000. 88.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ALGN has been the topic of several analyst reports. Jefferies Financial Group dropped their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Bank of America lifted their target price on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Wells Fargo & Company began coverage on Align Technology in a research note on Friday, February 14th. They issued an “overweight” rating and a $255.00 price target for the company. Evercore ISI lifted their price objective on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $262.64.

Align Technology Stock Performance

Align Technology stock opened at $153.51 on Friday. The firm has a market cap of $11.24 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73. Align Technology, Inc. has a 1 year low of $143.00 and a 1 year high of $331.64. The firm’s 50 day moving average price is $186.45 and its two-hundred day moving average price is $211.96.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. As a group, equities analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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.