Stevens Capital Management LP Has $865,000 Stake in Align Technology, Inc. (NASDAQ:ALGN)

Stevens Capital Management LP decreased its position in Align Technology, Inc. (NASDAQ:ALGN) by 29.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,158 shares of the medical equipment provider’s stock after selling 1,287 shares during the period. Stevens Capital Management LP’s holdings in Align Technology were worth $865,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in Align Technology by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 1,228,875 shares of the medical equipment provider’s stock worth $375,200,000 after purchasing an additional 29,497 shares during the last quarter. Morgan Stanley lifted its stake in Align Technology by 9.8% during the third quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock worth $310,866,000 after purchasing an additional 90,581 shares during the last quarter. Rhenman & Partners Asset Management AB bought a new stake in Align Technology during the third quarter worth $305,000. Invesco Ltd. lifted its stake in Align Technology by 15.4% during the third quarter. Invesco Ltd. now owns 960,271 shares of the medical equipment provider’s stock worth $293,190,000 after purchasing an additional 128,273 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Align Technology by 2.7% in the 3rd quarter. Northern Trust Corp now owns 831,469 shares of the medical equipment provider’s stock valued at $253,864,000 after acquiring an additional 21,490 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Activity at Align Technology

In other Align Technology news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the sale, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Align Technology news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the sale, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the completion of the sale, the director now owns 131,994 shares in the company, valued at approximately $40,023,220.68. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock worth $8,403,924 over the last 90 days. 0.64% of the stock is owned by company insiders.

Align Technology Stock Down 1.0 %

Shares of NASDAQ:ALGN traded down $3.28 during midday trading on Thursday, hitting $310.50. 1,654,137 shares of the stock traded hands, compared to its average volume of 756,560. Align Technology, Inc. has a one year low of $176.34 and a one year high of $413.20. The business’s 50 day moving average is $313.37 and its two-hundred day moving average is $270.52. The stock has a market capitalization of $23.37 billion, a PE ratio of 51.51, a P/E/G ratio of 5.59 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The company had revenue of $956.73 million for the quarter, compared to analysts’ expectations of $928.57 million. As a group, sell-side analysts forecast that Align Technology, Inc. will post 7.69 earnings per share for the current year.

Wall Street Analyst Weigh In

ALGN has been the subject of a number of research reports. UBS Group increased their price target on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. Stifel Nicolaus increased their price target on Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Piper Sandler reiterated an “overweight” rating and issued a $375.00 price target (up from $355.00) on shares of Align Technology in a research note on Thursday. The Goldman Sachs Group raised their target price on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. Finally, SVB Leerink assumed coverage on Align Technology in a report on Monday, February 26th. They set a “market perform” rating and a $310.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $341.36.

Align Technology Company 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.