Knuff & Co LLC Has $1.39 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Knuff & Co LLC decreased its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 54.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,468 shares of the medical equipment provider's stock after selling 6,491 shares during the period. Knuff & Co LLC's holdings in Align Technology were worth $1,391,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Mather Group LLC. boosted its holdings in shares of Align Technology by 52.5% during the second quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider's stock worth $29,000 after acquiring an additional 42 shares during the period. Quarry LP boosted its stake in Align Technology by 53.0% in the 2nd quarter. Quarry LP now owns 127 shares of the medical equipment provider's stock valued at $31,000 after purchasing an additional 44 shares during the period. Crewe Advisors LLC grew its holdings in Align Technology by 36.8% in the 2nd quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider's stock valued at $41,000 after buying an additional 46 shares in the last quarter. Empirical Finance LLC increased its position in Align Technology by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider's stock worth $632,000 after buying an additional 50 shares during the period. Finally, Daiwa Securities Group Inc. boosted its position in shares of Align Technology by 0.6% in the second quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider's stock valued at $2,143,000 after acquiring an additional 54 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Evercore ISI dropped their price objective on shares of Align Technology from $270.00 to $250.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Piper Sandler reduced their price target on Align Technology from $285.00 to $275.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Needham & Company LLC reiterated a "hold" rating on shares of Align Technology in a research report on Monday, November 4th. Robert W. Baird decreased their price target on Align Technology from $325.00 to $276.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Finally, Morgan Stanley cut their price objective 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. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Align Technology currently has an average rating of "Hold" and an average target price of $276.38.

Align Technology Trading Down 3.2 %

ALGN traded down $7.32 on Tuesday, reaching $222.58. The stock had a trading volume of 619,234 shares, compared to its average volume of 785,382. The company has a market capitalization of $16.62 billion, a price-to-earnings ratio of 37.98, a price-to-earnings-growth ratio of 5.79 and a beta of 1.65. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40. The firm has a 50-day moving average of $228.93 and a 200-day moving average of $238.76.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The business had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. During the same quarter last year, the business earned $1.62 EPS. The firm's quarterly revenue was up 1.8% on a year-over-year basis. Sell-side analysts anticipate that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.

About Align Technology

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.