Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA trimmed its position in Align Technology, Inc. (NASDAQ:ALGN) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 15,424 shares of the medical equipment provider’s stock after selling 350 shares during the period. Glenmede Trust Co. NA’s holdings in Align Technology were worth $3,923,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Mather Group LLC. increased its position in shares of Align Technology by 52.5% during the 2nd quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 42 shares during the last quarter. Quarry LP raised its stake in shares of Align Technology by 53.0% in the 2nd quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock valued at $31,000 after acquiring an additional 44 shares during the period. Crewe Advisors LLC lifted its holdings in shares of Align Technology by 36.8% in the 2nd quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider’s stock worth $41,000 after acquiring an additional 46 shares during the last quarter. Empirical Finance LLC boosted its position in shares of Align Technology by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock worth $632,000 after purchasing an additional 50 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in Align Technology by 0.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider’s stock valued at $2,143,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ALGN. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Piper Sandler lowered their target price on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a 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 on the stock in a research note on Thursday, October 24th. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Finally, Evercore ISI cut their target price on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $276.38.

Align Technology Trading Up 1.4 %

Shares of ALGN stock opened at $232.77 on Friday. The company has a market cap of $17.38 billion, a P/E ratio of 39.72, a PEG ratio of 5.95 and a beta of 1.65. The firm has a fifty day moving average price of $226.43 and a 200 day moving average price of $236.31. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The business had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.62 EPS. On average, equities analysts forecast that Align Technology, Inc. will post 7.45 EPS for the current year.

About Align Technology

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.