Brown Brothers Harriman & Co. Has $92,000 Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Brown Brothers Harriman & Co. reduced its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 91.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 360 shares of the medical equipment provider's stock after selling 4,045 shares during the quarter. Brown Brothers Harriman & Co.'s holdings in Align Technology were worth $92,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Mather Group LLC. lifted its holdings in Align Technology by 52.5% in the second quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider's stock valued at $29,000 after buying an additional 42 shares during the period. Quarry LP raised its holdings in shares of Align Technology by 53.0% during the second quarter. Quarry LP now owns 127 shares of the medical equipment provider's stock worth $31,000 after acquiring an additional 44 shares during the period. Crewe Advisors LLC raised its holdings in shares of Align Technology by 36.8% during the second quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider's stock worth $41,000 after acquiring an additional 46 shares during the period. Empirical Finance LLC raised its holdings in shares of Align Technology by 2.1% during the third quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider's stock worth $632,000 after acquiring an additional 50 shares during the period. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Align Technology by 0.6% during the second quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider's stock worth $2,143,000 after acquiring an additional 54 shares during the period. 88.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALGN. Morgan Stanley decreased their target price on shares of Align Technology from $310.00 to $280.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Robert W. Baird decreased their price objective on shares of Align Technology from $325.00 to $276.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. StockNews.com upgraded Align Technology from a "hold" rating to a "buy" rating in a report on Thursday, September 19th. Evercore ISI cut their price objective on Align Technology from $270.00 to $250.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Finally, Stifel Nicolaus decreased their target price on Align Technology from $285.00 to $275.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $276.38.

Align Technology Trading Up 1.4 %

ALGN stock traded up $3.11 during trading hours on Friday, hitting $232.77. 307,112 shares of the stock were exchanged, compared to its average volume of 786,188. The firm has a market capitalization of $17.38 billion, a P/E ratio of 39.19, a P/E/G ratio of 5.95 and a beta of 1.65. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40. The company has a 50-day simple moving average of $226.83 and a two-hundred day simple moving average of $236.87.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.04. The firm had revenue of $977.87 million during the quarter, compared to analysts' expectations of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The company's quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.62 EPS. On average, equities research analysts predict that Align Technology, Inc. will post 7.45 earnings per share 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.