Mariner LLC Sells 1,827 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Mariner LLC cut its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 15.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,074 shares of the medical equipment provider's stock after selling 1,827 shares during the quarter. Mariner LLC's holdings in Align Technology were worth $2,100,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Picton Mahoney Asset Management grew its holdings in Align Technology by 69.9% in the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock valued at $30,000 after buying an additional 58 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in shares of Align Technology in the 4th quarter worth about $35,000. Private Trust Co. NA lifted its stake in shares of Align Technology by 113.4% in the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock valued at $36,000 after purchasing an additional 93 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Align Technology by 212.2% during the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider's stock worth $48,000 after purchasing an additional 157 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Align Technology during the 4th quarter worth approximately $52,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Trading Down 2.7 %

ALGN traded down $4.82 during midday trading on Tuesday, reaching $176.27. The company's stock had a trading volume of 422,746 shares, compared to its average volume of 882,667. The firm has a market capitalization of $12.90 billion, a price-to-earnings ratio of 31.29, a PEG ratio of 2.24 and a beta of 1.73. The stock's 50-day moving average is $169.59 and its 200-day moving average is $202.06. Align Technology, Inc. has a 1 year low of $141.74 and a 1 year high of $313.29.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. As a group, equities research analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on ALGN. HSBC lowered shares of Align Technology from a "buy" rating to a "hold" rating and lowered their price target for the company from $290.00 to $170.00 in a report on Friday. Evercore ISI increased their price target on Align Technology from $240.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. UBS Group dropped their price objective on Align Technology from $240.00 to $215.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Morgan Stanley dropped their price target on shares of Align Technology from $280.00 to $272.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $245.75.

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.