Atria Investments Inc Sells 1,580 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Atria Investments Inc cut its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 36.6% during the third quarter, Holdings Channel reports. The fund owned 2,736 shares of the medical equipment provider’s stock after selling 1,580 shares during the quarter. Atria Investments Inc’s holdings in Align Technology were worth $696,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. acquired a new stake in shares of Align Technology during the 1st quarter worth about $216,000. O Shaughnessy Asset Management LLC lifted its position in Align Technology by 116.8% during the first quarter. O Shaughnessy Asset Management LLC now owns 5,402 shares of the medical equipment provider’s stock worth $1,772,000 after acquiring an additional 2,910 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of Align Technology by 324.7% during the first quarter. UniSuper Management Pty Ltd now owns 3,822 shares of the medical equipment provider’s stock worth $1,253,000 after acquiring an additional 2,922 shares during the period. Lake Street Advisors Group LLC increased its stake in shares of Align Technology by 28.3% during the first quarter. Lake Street Advisors Group LLC now owns 1,069 shares of the medical equipment provider’s stock worth $350,000 after purchasing an additional 236 shares during the period. Finally, Natixis lifted its holdings in Align Technology by 5.2% during the 1st quarter. Natixis now owns 9,679 shares of the medical equipment provider’s stock worth $3,174,000 after purchasing an additional 475 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Trading Up 2.8 %

Shares of Align Technology stock opened at $229.90 on Tuesday. The company has a 50 day moving average of $229.02 and a 200-day moving average of $239.22. The company has a market cap of $17.16 billion, a PE ratio of 39.23, a price-to-earnings-growth ratio of 5.79 and a beta of 1.65. 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 earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share 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 the consensus estimate of $990.05 million. During the same quarter last year, the business posted $1.62 EPS. The company’s revenue 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.

Analysts Set New Price Targets

ALGN has been the topic of several recent research reports. Stifel Nicolaus lowered their price objective 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 lowered their price target on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Evercore ISI decreased their target price on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Morgan Stanley dropped their price target on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $276.38.

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.