Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Blair William & Co. IL

Blair William & Co. IL lowered its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 46.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 75,449 shares of the medical equipment provider's stock after selling 65,601 shares during the quarter. Blair William & Co. IL owned 0.10% of Align Technology worth $15,732,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP grew its stake in Align Technology by 49.0% in the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider's stock worth $670,031,000 after purchasing an additional 866,663 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Align Technology by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider's stock valued at $443,810,000 after acquiring an additional 21,605 shares during the period. FMR LLC raised its position in shares of Align Technology by 43.0% in the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider's stock worth $310,736,000 after acquiring an additional 367,508 shares in the last quarter. Ninety One UK Ltd boosted its position in Align Technology by 3.7% during the fourth quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider's stock valued at $254,508,000 after purchasing an additional 43,524 shares in the last quarter. Finally, Meridiem Investment Management Ltd. grew its stake in Align Technology by 63.7% in the fourth quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider's stock valued at $159,470,000 after purchasing an additional 297,472 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Mizuho cut their price objective on shares of Align Technology from $295.00 to $250.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 25th. Leerink Partnrs upgraded Align Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Wells Fargo & Company started coverage on Align Technology in a research note on Friday, February 14th. They set an "overweight" rating and a $255.00 target price on the stock. Bank of America increased their price target on Align Technology from $200.00 to $206.00 and gave the company an "underperform" rating in a research note on Friday, December 13th. Finally, Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $262.64.

Align Technology Stock Up 2.8 %

Shares of Align Technology stock traded up $4.41 during trading hours on Wednesday, reaching $162.49. 224,070 shares of the company's stock were exchanged, compared to its average volume of 829,907. The business has a fifty day moving average of $191.02 and a two-hundred day moving average of $213.38. The company has a market capitalization of $11.96 billion, a P/E ratio of 28.96, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 1 year low of $153.77 and a 1 year high of $331.64.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts' consensus estimates 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, research analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

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.