Kovitz Investment Group Partners LLC Sells 10,609 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Kovitz Investment Group Partners LLC lessened its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 56.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,332 shares of the medical equipment provider's stock after selling 10,609 shares during the period. Kovitz Investment Group Partners LLC's holdings in Align Technology were worth $1,737,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pinebridge Investments L.P. grew its holdings in shares of Align Technology by 205.7% during the fourth quarter. Pinebridge Investments L.P. now owns 14,500 shares of the medical equipment provider's stock valued at $3,023,000 after buying an additional 9,757 shares during the last quarter. Stifel Financial Corp lifted its position in shares of Align Technology by 0.4% during the 4th quarter. Stifel Financial Corp now owns 34,003 shares of the medical equipment provider's stock valued at $7,090,000 after buying an additional 139 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Align Technology by 207.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,105 shares of the medical equipment provider's stock worth $1,064,000 after purchasing an additional 3,446 shares during the period. MetLife Investment Management LLC grew its stake in Align Technology by 1.2% in the 4th quarter. MetLife Investment Management LLC now owns 20,592 shares of the medical equipment provider's stock valued at $4,294,000 after buying an additional 254 shares in the last quarter. Finally, Norinchukin Bank The raised its stake in shares of Align Technology by 10.5% during the 4th quarter. Norinchukin Bank The now owns 3,222 shares of the medical equipment provider's stock valued at $672,000 after purchasing an additional 306 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on ALGN shares. Leerink Partners upgraded Align Technology from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $235.00 to $280.00 in a research note on Monday, January 6th. Hsbc Global Res cut Align Technology from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a report on Thursday. HSBC lowered shares of Align Technology from a "buy" rating to a "hold" rating and cut their target price for the company from $290.00 to $170.00 in a report on Friday, April 25th. Finally, Mizuho dropped their target price on Align Technology from $250.00 to $245.00 and set an "outperform" rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Align Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $241.25.

Align Technology Stock Performance

NASDAQ ALGN traded up $3.08 during mid-day trading on Friday, reaching $179.82. 1,386,806 shares of the stock were exchanged, compared to its average volume of 902,888. The business's fifty day simple moving average is $168.56 and its 200 day simple moving average is $201.39. Align Technology, Inc. has a 1-year low of $141.74 and a 1-year high of $295.69. The stock has a market capitalization of $13.16 billion, a PE ratio of 32.05, a PEG ratio of 2.24 and a beta of 1.73.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating analysts' consensus estimates of $2.00 by $0.13. The business had revenue of $979.26 million during the quarter, compared to analyst estimates of $977.90 million. Align Technology had a net margin of 10.54% and a return on equity of 13.84%. The business's revenue was down 1.8% on a year-over-year basis. During the same period last year, the business earned $2.14 EPS. On average, analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology Company 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.