Pathstone Holdings LLC Has $2.65 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Pathstone Holdings LLC cut its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 22.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 10,428 shares of the medical equipment provider’s stock after selling 3,081 shares during the period. Pathstone Holdings LLC’s holdings in Align Technology were worth $2,652,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. LRI Investments LLC purchased a new stake in shares of Align Technology in the first quarter worth approximately $29,000. Cullen Frost Bankers Inc. raised its position in Align Technology by 854.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 94 shares during the last quarter. Rothschild Investment LLC bought a new position in Align Technology during the 2nd quarter valued at $26,000. Innealta Capital LLC purchased a new position in Align Technology during the 2nd quarter worth $26,000. Finally, Versant Capital Management Inc grew its stake in shares of Align Technology by 547.1% in the 2nd 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 in the last quarter. Institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Piper Sandler dropped 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. Evercore ISI dropped 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. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Robert W. Baird dropped their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Align Technology presently has an average rating of “Hold” and an average target price of $276.38.

Align Technology Price Performance

Shares of ALGN opened at $240.52 on Tuesday. The firm has a market cap of $17.95 billion, a PE ratio of 41.04, a PEG ratio of 5.85 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. The stock’s fifty day moving average price is $228.36 and its two-hundred day moving average price is $237.28.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.31 by $0.04. The business had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.62 earnings per share. Sell-side analysts anticipate that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal 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.