Citizens Financial Group Inc. RI Trims Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Citizens Financial Group Inc. RI decreased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 29.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,049 shares of the medical equipment provider’s stock after selling 851 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Align Technology were worth $427,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALGN. Daiwa Securities Group Inc. grew its stake in Align Technology by 6.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 10,458 shares of the medical equipment provider’s stock worth $2,181,000 after buying an additional 654 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Align Technology by 7.1% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,981 shares of the medical equipment provider’s stock worth $6,043,000 after acquiring an additional 1,916 shares during the last quarter. American Assets Inc. acquired a new position in shares of Align Technology in the 4th quarter valued at $417,000. AlphaQuest LLC raised its position in Align Technology by 49.3% in the 4th quarter. AlphaQuest LLC now owns 2,038 shares of the medical equipment provider’s stock valued at $425,000 after purchasing an additional 673 shares during the last quarter. Finally, Schaper Benz & Wise Investment Counsel Inc. WI boosted its stake in Align Technology by 2.8% during the 4th quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 40,379 shares of the medical equipment provider’s stock worth $8,419,000 after purchasing an additional 1,114 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Mizuho started coverage on shares of Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 target price for the company. Morgan Stanley cut their price target on Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company began coverage on shares of Align Technology in a research note on Friday, February 14th. They issued an “overweight” rating and a $255.00 target price for the company. Bank of America raised their price objective on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Finally, Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $235.00 to $280.00 in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Align Technology presently has an average rating of “Moderate Buy” and an average target price of $269.91.

Align Technology Trading Down 2.5 %

Align Technology stock opened at $160.51 on Friday. The stock has a market cap of $11.81 billion, a PE ratio of 28.61, a P/E/G ratio of 2.24 and a beta of 1.69. The stock has a 50-day moving average price of $204.45 and a 200 day moving average price of $219.44. Align Technology, Inc. has a 52 week low of $158.13 and a 52 week high of $335.40.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. On average, equities analysts predict that Align Technology, Inc. will post 7.98 EPS for the current 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.