Moody National Bank Trust Division Cuts Position in Align Technology, Inc. (NASDAQ:ALGN)

Moody National Bank Trust Division trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,219 shares of the medical equipment provider’s stock after selling 116 shares during the quarter. Moody National Bank Trust Division’s holdings in Align Technology were worth $463,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ALGN. Wellington Management Group LLP increased its position in shares of Align Technology by 49.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after purchasing an additional 866,663 shares during the last quarter. Geode Capital Management LLC grew its position in Align Technology by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock valued at $443,810,000 after buying an additional 21,605 shares during the period. FMR LLC grew its position in Align Technology by 43.0% during the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock valued at $310,736,000 after buying an additional 367,508 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in Align Technology by 6.4% during the third quarter. Disciplined Growth Investors Inc. MN now owns 753,026 shares of the medical equipment provider’s stock worth $191,510,000 after buying an additional 45,484 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its position in Align Technology by 96.3% in the third quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock worth $171,493,000 after acquiring an additional 330,807 shares during the period. 88.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Morgan Stanley decreased 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 note on Thursday, October 24th. Evercore ISI decreased their target price on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Bank of America upped their price target on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Finally, Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Align Technology currently has a consensus rating of “Moderate Buy” and an average price target of $268.20.

Align Technology Stock Down 1.5 %

Shares of ALGN opened at $210.46 on Wednesday. Align Technology, Inc. has a twelve month low of $196.09 and a twelve month high of $335.40. The stock has a market cap of $15.71 billion, a PE ratio of 35.91, a P/E/G ratio of 6.20 and a beta of 1.67. The business’s 50-day moving average price is $222.28 and its 200-day moving average price is $228.53.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share 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 business 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 posted $1.62 EPS. Align Technology’s revenue was up 1.8% on a year-over-year basis. Analysts expect that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal year.

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.