Argent Capital Management LLC Lowers Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Argent Capital Management LLC decreased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 7.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 124,261 shares of the medical equipment provider's stock after selling 10,601 shares during the period. Argent Capital Management LLC owned 0.17% of Align Technology worth $31,602,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mather Group LLC. purchased a new stake in shares of Align Technology in the 1st quarter valued at about $26,000. LRI Investments LLC purchased a new stake in shares of Align Technology in the 1st quarter valued at about $29,000. Cullen Frost Bankers Inc. increased its position in shares of Align Technology by 854.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider's stock valued at $25,000 after purchasing an additional 94 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Align Technology during the 2nd quarter valued at about $26,000. Finally, Innealta Capital LLC bought a new position in shares of Align Technology during the 2nd quarter valued at about $26,000. Hedge funds and other institutional investors own 88.43% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on ALGN shares. Robert W. Baird reduced their price objective on Align Technology from $325.00 to $276.00 and set an "outperform" rating on the stock in a research report on Thursday. StockNews.com upgraded Align Technology from a "hold" rating to a "buy" rating in a research report on Thursday, September 19th. Stifel Nicolaus reduced their price target on Align Technology from $285.00 to $275.00 and set a "buy" rating on the stock in a research report on Thursday. 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. Finally, Morgan Stanley reduced their price target on Align Technology from $310.00 to $280.00 and set an "overweight" rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $276.38.

Align Technology Trading Up 4.2 %

NASDAQ ALGN traded up $8.76 on Thursday, hitting $216.42. The company's stock had a trading volume of 2,028,473 shares, compared to its average volume of 778,807. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $335.40. The company's 50-day simple moving average is $234.20 and its 200 day simple moving average is $250.96. The firm has a market cap of $16.29 billion, a P/E ratio of 35.65, a PEG ratio of 5.33 and a beta of 1.64.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.04. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The business had revenue of $977.87 million during the quarter, compared to analysts' expectations of $990.05 million. During the same quarter last year, the business posted $1.62 EPS. The business's revenue was up 1.8% on a year-over-year basis. On average, research analysts forecast that Align Technology, Inc. will post 7.61 EPS for the current fiscal year.

Insider Activity

In other news, Director C Raymond Larkin, Jr. bought 6,500 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the purchase, the director now directly owns 28,247 shares in the company, valued at $6,647,366.51. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.62% of the stock is currently owned by company insiders.

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.