Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Polen Capital Management LLC

Polen Capital Management LLC cut its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 55.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,504 shares of the medical equipment provider's stock after selling 5,711 shares during the period. Polen Capital Management LLC's holdings in Align Technology were worth $939,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. True Wealth Design LLC boosted its stake in shares of Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider's stock worth $27,000 after acquiring an additional 107 shares during the last quarter. Picton Mahoney Asset Management boosted its stake 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 worth $30,000 after purchasing an additional 58 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Align Technology during the third quarter worth $32,000. Private Trust Co. NA raised its position in shares of Align Technology by 113.4% in the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock valued at $36,000 after buying an additional 93 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of Align Technology by 212.2% in the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider's stock worth $48,000 after buying an additional 157 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several research firms recently commented on ALGN. Morgan Stanley cut their price target on Align Technology from $280.00 to $272.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Mizuho started coverage on Align Technology in a research note on Wednesday, December 4th. They issued an "outperform" rating and a $295.00 target price for the company. Jefferies Financial Group lowered their price target on shares of Align Technology from $285.00 to $260.00 and set a "buy" rating on the stock in a research report on Thursday, January 23rd. Evercore ISI raised their price objective on shares of Align Technology from $240.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Finally, Leerink Partnrs raised shares of Align Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $266.73.

Align Technology Price Performance

Shares of ALGN stock traded down $0.20 during trading hours on Friday, reaching $168.61. 1,881,262 shares of the stock were exchanged, compared to its average volume of 801,257. Align Technology, Inc. has a 12-month low of $158.13 and a 12-month high of $335.40. The business's fifty day moving average is $199.65 and its two-hundred day moving average is $217.11. The firm has a market capitalization of $12.41 billion, a P/E ratio of 30.06, a P/E/G ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts' consensus estimates 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 predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal 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.