Align Technology, Inc. (NASDAQ:ALGN) Position Cut by YHB Investment Advisors Inc.

YHB Investment Advisors Inc. lowered its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 4.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,277 shares of the medical equipment provider’s stock after selling 444 shares during the period. YHB Investment Advisors Inc.’s holdings in Align Technology were worth $2,359,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Mather Group LLC. acquired a new stake in Align Technology in the first quarter worth about $26,000. Park Avenue Securities LLC lifted its stake in shares of Align Technology by 13.2% in the 1st quarter. Park Avenue Securities LLC now owns 2,610 shares of the medical equipment provider’s stock worth $856,000 after acquiring an additional 304 shares during the period. Gateway Investment Advisers LLC boosted its holdings in shares of Align Technology by 56.6% in the first quarter. Gateway Investment Advisers LLC now owns 2,822 shares of the medical equipment provider’s stock valued at $925,000 after acquiring an additional 1,020 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Align Technology by 12.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,294 shares of the medical equipment provider’s stock valued at $2,064,000 after acquiring an additional 697 shares during the period. Finally, WD Rutherford LLC acquired a new position in shares of Align Technology during the first quarter valued at approximately $610,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Activity

In other Align Technology news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the stock in a transaction dated Thursday, August 15th. The shares were acquired at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the acquisition, the director now owns 28,247 shares of the company’s stock, valued at $6,647,366.51. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ALGN shares. Stifel Nicolaus decreased their price target on Align Technology from $350.00 to $285.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Morgan Stanley decreased their target price on Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Robert W. Baird dropped their price target on shares of Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Piper Sandler reduced their price objective on shares of Align Technology from $315.00 to $285.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Finally, Evercore ISI lowered their price objective on shares of Align Technology from $280.00 to $270.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Align Technology has a consensus rating of “Hold” and a consensus target price of $291.25.

Align Technology Trading Down 1.5 %

ALGN stock opened at $207.66 on Thursday. Align Technology, Inc. has a one year low of $176.34 and a one year high of $335.40. The firm has a 50-day moving average of $234.20 and a two-hundred day moving average of $250.96. The firm has a market capitalization of $15.63 billion, a PE ratio of 34.21, a P/E/G ratio of 5.33 and a beta of 1.64.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business posted $1.73 EPS. The company’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts anticipate that Align Technology, Inc. will post 7.61 earnings per share 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.