Align Technology, Inc. (NASDAQ:ALGN) Position Cut by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 8.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 206,436 shares of the medical equipment provider's stock after selling 18,192 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.27% of Align Technology worth $52,501,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Mather Group LLC. lifted its stake in 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 purchasing an additional 42 shares during the last quarter. Quarry LP boosted its holdings in shares of 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 buying an additional 44 shares in the last quarter. Crewe Advisors LLC grew its position in shares of 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 during the last quarter. Daiwa Securities Group Inc. raised its stake in Align Technology by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider's stock worth $2,143,000 after acquiring an additional 54 shares in the last quarter. Finally, Lake Street Advisors Group LLC raised its stake in Align Technology by 5.6% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,042 shares of the medical equipment provider's stock worth $265,000 after acquiring an additional 55 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the stock in a transaction on Thursday, August 15th. The stock was bought at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the transaction, the director now directly owns 28,247 shares of the company's stock, valued at $6,647,366.51. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.62% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on ALGN shares. Evercore ISI dropped their price objective on Align Technology from $270.00 to $250.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Robert W. Baird reduced their price objective on Align Technology from $325.00 to $276.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research report on Thursday, October 24th. Piper Sandler lowered their target price on shares of Align Technology from $285.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Finally, StockNews.com raised Align Technology from a "hold" rating to a "buy" rating in a report on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $276.38.

Align Technology Stock Performance

Align Technology stock traded down $1.88 during trading on Wednesday, reaching $210.90. The company had a trading volume of 676,635 shares, compared to its average volume of 781,530. Align Technology, Inc. has a 12-month low of $178.52 and a 12-month high of $335.40. The stock's 50 day moving average price is $232.51 and its two-hundred day moving average price is $247.42. The firm has a market capitalization of $15.75 billion, a price-to-earnings ratio of 36.31, a PEG ratio of 5.33 and a beta of 1.64.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.31 by $0.04. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The firm had revenue of $977.87 million for the quarter, compared to analysts' expectations of $990.05 million. During the same period in the previous year, the company posted $1.62 earnings per share. Align Technology's revenue was up 1.8% compared to the same quarter last year. As a group, research analysts expect that Align Technology, Inc. will post 7.61 earnings per share for the current year.

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.