Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 39,482 Shares of Align Technology, Inc. $ALGN

Key Points

• Loring Wolcott & Coolidge Fiduciary Advisors trimmed its Align Technology stake by 26.2% in Q4, selling 39,482 shares and now holds 111,474 shares worth about $18.62 million (≈0.16% of the company).
• Align beat Q4 expectations with $3.29 EPS (vs. $2.99) and $1.05B revenue (+5.3% YoY), and several analysts raised price targets, leaving a consensus rating of Moderate Buy with a $202.46 target.
• EVP John Morici sold 7,969 shares at an average ~$189.31 (reducing his position by 49.17%), while institutional investors collectively own about 88.43% of Align's stock.

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 26.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,474 shares of the medical equipment provider's stock after selling 39,482 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.16% of Align Technology worth $18,621,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Align Technology by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider's stock valued at $1,624,000 after acquiring an additional 469 shares during the period. Focus Partners Wealth boosted its holdings in shares of Align Technology by 5.2% during the first quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider's stock worth $486,000 after acquiring an additional 151 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Align Technology during the second quarter worth approximately $204,000. EverSource Wealth Advisors LLC lifted its holdings in Align Technology by 55.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 531 shares of the medical equipment provider's stock worth $101,000 after purchasing an additional 190 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Align Technology by 201.7% in the 2nd quarter. First Trust Advisors LP now owns 88,270 shares of the medical equipment provider's stock valued at $16,712,000 after purchasing an additional 59,010 shares during the period. Institutional investors and hedge funds own 88.43% of the company's stock.

Align Technology Stock Up 0.4%

Align Technology stock opened at $196.05 on Thursday. The stock has a market cap of $14.04 billion, a PE ratio of 34.64, a P/E/G ratio of 2.13 and a beta of 1.81. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $208.30. The business's 50-day moving average price is $179.59 and its two-hundred day moving average price is $162.04.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, topping analysts' consensus estimates of $2.99 by $0.30. The firm had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The business's revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.44 earnings per share. As a group, analysts expect that Align Technology, Inc. will post 9.12 earnings per share for the current year.

Analysts Set New Price Targets

ALGN has been the topic of a number of research reports. Mizuho upped their price objective on Align Technology from $200.00 to $215.00 and gave the company an "outperform" rating in a report on Thursday, February 5th. Morgan Stanley upped their price target on shares of Align Technology from $154.00 to $169.00 and gave the company an "equal weight" rating in a research note on Thursday, February 5th. UBS Group lifted their price objective on shares of Align Technology from $175.00 to $185.00 and gave the stock a "neutral" rating in a research note on Thursday, February 5th. Barclays raised shares of Align Technology from an "equal weight" rating to an "overweight" rating and set a $200.00 price objective for the company in a report on Tuesday, March 17th. Finally, Piper Sandler increased their target price on shares of Align Technology from $220.00 to $235.00 and gave the stock an "overweight" rating in a research report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.46.

Insider Activity

In other news, EVP John Morici sold 7,969 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total value of $1,508,611.39. Following the completion of the transaction, the executive vice president directly owned 8,237 shares in the company, valued at approximately $1,559,346.47. This represents a 49.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.75% of the company's stock.

Align Technology Company Profile

Align Technology, Inc NASDAQ: ALGN pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company's signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.

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