Crossmark Global Holdings Inc. Trims Position in Align Technology, Inc. (NASDAQ:ALGN)

Crossmark Global Holdings Inc. trimmed its position in Align Technology, Inc. (NASDAQ:ALGN) by 14.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,960 shares of the medical equipment provider’s stock after selling 517 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Align Technology were worth $753,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC lifted its stake in Align Technology by 4,391.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 488,251 shares of the medical equipment provider’s stock worth $117,879,000 after purchasing an additional 477,380 shares in the last quarter. Swedbank AB bought a new position in shares of Align Technology in the first quarter worth $96,117,000. Bares Capital Management Inc. raised its position in shares of Align Technology by 44.4% in the first quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock worth $268,871,000 after buying an additional 252,220 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Align Technology by 127.4% during the second quarter. Point72 Asset Management L.P. now owns 343,512 shares of the medical equipment provider’s stock valued at $82,934,000 after buying an additional 192,474 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its position in Align Technology by 371.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 218,779 shares of the medical equipment provider’s stock worth $71,742,000 after buying an additional 172,330 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Up 0.9 %

Align Technology stock opened at $223.69 on Friday. The firm has a fifty day simple moving average of $228.80 and a two-hundred day simple moving average of $240.79. Align Technology, Inc. has a twelve month low of $196.09 and a twelve month high of $335.40. The company has a market capitalization of $16.70 billion, a PE ratio of 38.81, a P/E/G ratio of 5.57 and a beta of 1.65.

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 the consensus estimate of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The company had revenue of $977.87 million during the quarter, compared to analysts’ expectations of $990.05 million. During the same period in the prior year, the business posted $1.62 EPS. Align Technology’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts expect that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALGN has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Morgan Stanley dropped their target price 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. Stifel Nicolaus cut their price target on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Piper Sandler lowered their price objective 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. Finally, Evercore ISI cut their target price on shares of Align Technology from $270.00 to $250.00 and set an “outperform” 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 issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $276.38.

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.