Choreo LLC Sells 1,711 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Choreo LLC lowered its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 53.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,479 shares of the medical equipment provider's stock after selling 1,711 shares during the period. Choreo LLC's holdings in Align Technology were worth $306,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ALGN. Baker Avenue Asset Management LP bought a new stake in Align Technology in the 3rd quarter worth approximately $4,250,000. Swedbank AB grew its position in Align Technology by 30.1% in the 3rd quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider's stock worth $98,960,000 after purchasing an additional 90,000 shares during the period. KBC Group NV grew its position in Align Technology by 11.8% in the 3rd quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider's stock worth $13,595,000 after purchasing an additional 5,663 shares during the period. Nordea Investment Management AB grew its position in Align Technology by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider's stock worth $56,870,000 after purchasing an additional 9,139 shares during the period. Finally, Fisher Asset Management LLC grew its position in Align Technology by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider's stock worth $26,900,000 after purchasing an additional 2,717 shares during the period. Institutional investors own 88.43% of the company's stock.

Align Technology Trading Up 0.9 %

Shares of ALGN traded up $1.88 during trading hours on Monday, reaching $206.77. 880,550 shares of the stock traded hands, compared to its average volume of 760,952. Align Technology, Inc. has a 52-week low of $196.09 and a 52-week high of $335.40. The company's 50-day moving average price is $218.77 and its two-hundred day moving average price is $224.86. The company has a market cap of $15.44 billion, a P/E ratio of 36.86, a price-to-earnings-growth ratio of 4.79 and a beta of 1.67.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its 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 net margin of 10.54% and a return on equity of 13.84%. On average, research analysts forecast that Align Technology, Inc. will post 8.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ALGN shares. Wells Fargo & Company started coverage on shares of Align Technology in a research report on Friday. They issued an "overweight" rating and a $255.00 target price for the company. Bank of America lifted their price target on shares of Align Technology from $200.00 to $206.00 and gave the stock an "underperform" rating in a research note on Friday, December 13th. Needham & Company LLC reiterated a "hold" rating on shares of Align Technology in a research note on Thursday, February 6th. Mizuho began coverage on shares of Align Technology in a research note on Wednesday, December 4th. They set an "outperform" rating and a $295.00 price target on the stock. Finally, Leerink Partners upgraded shares of Align Technology from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $269.91.

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.