Knuff & Co LLC Sells 2,947 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Knuff & Co LLC trimmed its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 53.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,521 shares of the medical equipment provider's stock after selling 2,947 shares during the period. Knuff & Co LLC's holdings in Align Technology were worth $526,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Swedbank AB increased its stake in shares of 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 in the last quarter. KBC Group NV increased its stake in shares of 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 in the last quarter. Nordea Investment Management AB increased its stake 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 buying an additional 9,139 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Align Technology by 119.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider's stock worth $35,368,000 after buying an additional 92,407 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake 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 buying an additional 2,717 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALGN. Evercore ISI increased their price target on Align Technology from $240.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Piper Sandler cut their price objective on Align Technology from $275.00 to $270.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Leerink Partners upgraded Align Technology from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $235.00 to $280.00 in a research report on Monday, January 6th. Bank of America raised their price objective on Align Technology from $200.00 to $206.00 and gave the company an "underperform" rating in a research report on Friday, December 13th. Finally, Morgan Stanley cut their price objective on Align Technology from $280.00 to $272.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $269.91.

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Align Technology Price Performance

Shares of NASDAQ ALGN opened at $165.14 on Wednesday. The company has a market cap of $12.15 billion, a P/E ratio of 29.44, a PEG ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 1 year low of $159.56 and a 1 year high of $335.40. The firm has a 50-day simple moving average of $206.29 and a two-hundred day simple moving average of $220.25.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) 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 expect 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.

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