Mariner LLC Sells 1,827 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Mariner LLC reduced its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 15.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,074 shares of the medical equipment provider's stock after selling 1,827 shares during the period. Mariner LLC's holdings in Align Technology were worth $2,100,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALGN. Picton Mahoney Asset Management raised its holdings in Align Technology by 69.9% during the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock valued at $30,000 after buying an additional 58 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of Align Technology during the fourth quarter worth about $35,000. Private Trust Co. NA increased its holdings in Align Technology by 113.4% during the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock valued at $36,000 after purchasing an additional 93 shares during the period. Versant Capital Management Inc raised its position in Align Technology by 212.2% during the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider's stock valued at $48,000 after purchasing an additional 157 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Align Technology in the 4th quarter worth approximately $52,000. Institutional investors own 88.43% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ALGN. UBS Group decreased their target price on Align Technology from $240.00 to $215.00 and set a "neutral" rating for the company in a report on Thursday. Morgan Stanley reduced their price target on shares of Align Technology from $280.00 to $272.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company initiated coverage on Align Technology in a research report on Friday, February 14th. They set an "overweight" rating and a $255.00 price objective on the stock. Evercore ISI lifted their price target on Align Technology from $240.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Finally, HSBC lowered Align Technology from a "buy" rating to a "hold" rating and lowered their price objective for the company from $290.00 to $170.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Align Technology has a consensus rating of "Moderate Buy" and a consensus price target of $246.17.

Align Technology Price Performance

NASDAQ ALGN traded down $0.92 during mid-day trading on Friday, reaching $183.35. The stock had a trading volume of 1,162,658 shares, compared to its average volume of 883,699. The stock has a market cap of $13.42 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73. Align Technology, Inc. has a 1 year low of $141.74 and a 1 year high of $313.29. The company has a fifty day moving average price of $170.00 and a 200 day moving average price of $202.54.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. As a group, equities research analysts expect that Align Technology, Inc. will post 7.98 earnings per share 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.