Bridgewater Associates LP Sells 27,844 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Bridgewater Associates LP reduced its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 78.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,566 shares of the medical equipment provider's stock after selling 27,844 shares during the period. Bridgewater Associates LP's holdings in Align Technology were worth $1,578,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ALGN. Picton Mahoney Asset Management boosted its holdings in shares of Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock worth $30,000 after acquiring an additional 58 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in Align Technology during the fourth quarter valued at $35,000. Private Trust Co. NA boosted its stake in Align Technology by 113.4% during the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock valued at $36,000 after buying an additional 93 shares during the period. Versant Capital Management Inc boosted its stake in Align Technology by 212.2% during the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider's stock valued at $48,000 after buying an additional 157 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in Align Technology during the fourth quarter valued at $52,000. 88.43% of the stock is owned by institutional investors.

Align Technology Trading Up 3.1 %

Shares of ALGN stock traded up $5.42 during trading hours on Thursday, reaching $182.65. The company's stock had a trading volume of 275,793 shares, compared to its average volume of 883,281. The stock has a market capitalization of $13.37 billion, a P/E ratio of 32.61, a P/E/G ratio of 2.24 and a beta of 1.73. Align Technology, Inc. has a one year low of $141.74 and a one year high of $327.49. The firm's fifty day simple moving average is $170.83 and its 200 day simple moving average is $203.45.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings data 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, equities research analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ALGN shares. Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a research note on Thursday, February 6th. Morgan Stanley dropped their price objective on Align Technology from $280.00 to $272.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Leerink Partners upgraded Align Technology from a "market perform" rating to an "outperform" rating and raised their price target for the company from $235.00 to $280.00 in a research report on Monday, January 6th. Wells Fargo & Company started coverage on Align Technology in a research report on Friday, February 14th. They set an "overweight" rating and a $255.00 price target on the stock. Finally, Mizuho lowered their price target on Align Technology from $295.00 to $250.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $256.90.

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.