Massachusetts Financial Services Co. MA Sells 18,297 Shares of Align Technology, Inc. $ALGN

Key Points

• Massachusetts Financial Services Co. trimmed its stake in Align Technology by 7.2%, selling 18,297 shares and ending the quarter with 236,113 shares (about 0.33% of the company) valued at roughly $36.87 million.
• Align beat expectations for the quarter, reporting $3.29 EPS vs. $2.99 expected and $1.05 billion in revenue (up 5.3% year-over-year), while analysts' average target is $198.08 and the consensus rating is a "Moderate Buy" (7 Buys, 7 Holds).
• EVP John Morici sold 7,969 shares for about $1.51 million, reducing his holdings by 49.17%, and institutional investors collectively own 88.43% of the stock.

Massachusetts Financial Services Co. MA lowered its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 7.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 236,113 shares of the medical equipment provider's stock after selling 18,297 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.33% of Align Technology worth $36,869,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sentry Investment Management LLC increased its position in Align Technology by 73.1% during the third quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 79 shares during the period. Steigerwald Gordon & Koch Inc. bought a new position in Align Technology during the third quarter worth $26,000. Independence Bank of Kentucky increased its stake in Align Technology by 77.7% during the fourth quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider's stock valued at $29,000 after acquiring an additional 80 shares during the period. Quent Capital LLC bought a new position in Align Technology during the third quarter valued at about $30,000. Finally, TD Private Client Wealth LLC increased its stake in Align Technology by 135.6% during the third quarter. TD Private Client Wealth LLC now owns 238 shares of the medical equipment provider's stock valued at $30,000 after acquiring an additional 137 shares during the period. Institutional investors own 88.43% of the company's stock.

Align Technology Trading Up 2.2%

ALGN stock opened at $184.69 on Wednesday. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30. The firm has a market cap of $13.23 billion, a P/E ratio of 32.63, a P/E/G ratio of 1.97 and a beta of 1.81. The business's 50 day moving average is $178.91 and its 200-day moving average is $159.63.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.30. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company posted $2.44 EPS. The company's revenue was up 5.3% compared to the same quarter last year. Sell-side analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

Insider Buying and Selling at Align Technology

In other news, EVP John Morici sold 7,969 shares of the company's stock in a transaction that occurred 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ALGN shares. Wells Fargo & Company boosted their price target on Align Technology from $181.00 to $200.00 and gave the company an "overweight" rating in a research note on Thursday, February 5th. Morgan Stanley boosted their price target on Align Technology from $154.00 to $169.00 and gave the company an "equal weight" rating in a research note on Thursday, February 5th. Weiss Ratings upgraded Align Technology from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, January 16th. Evercore restated an "outperform" rating on shares of Align Technology in a research note on Wednesday, April 8th. Finally, Piper Sandler boosted their price target on shares of Align Technology from $200.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Align Technology currently has an average rating of "Moderate Buy" and an average target price of $198.08.

About Align Technology

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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