AM Squared Ltd Reduces Holdings in Align Technology, Inc. (NASDAQ:ALGN)

AM Squared Ltd lowered its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 20.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 400 shares of the medical equipment provider’s stock after selling 100 shares during the period. AM Squared Ltd’s holdings in Align Technology were worth $102,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. LRI Investments LLC purchased a new stake in shares of Align Technology during the first quarter valued at approximately $29,000. Cullen Frost Bankers Inc. raised its stake in shares of Align Technology by 854.5% during the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 94 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Align Technology during the second quarter valued at approximately $26,000. Innealta Capital LLC purchased a new stake in shares of Align Technology during the second quarter valued at approximately $26,000. Finally, Versant Capital Management Inc raised its stake in shares of Align Technology by 547.1% during the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 93 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Stifel Nicolaus dropped 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. Evercore ISI dropped their price target on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. 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 note on Thursday, October 24th. Finally, Robert W. Baird dropped their price target on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Align Technology currently has an average rating of “Hold” and an average target price of $276.38.

Align Technology Price Performance

ALGN stock opened at $223.69 on Friday. Align Technology, Inc. has a 1-year low of $196.09 and a 1-year high of $335.40. The firm has a market cap of $16.70 billion, a price-to-earnings ratio of 38.17, a PEG ratio of 5.79 and a beta of 1.65. The firm has a fifty day moving average price of $228.85 and a two-hundred day moving average price of $239.93.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. During the same quarter in the previous year, the company posted $1.62 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, analysts expect that Align Technology, Inc. will post 7.45 EPS 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.