Prudential Financial Inc. Sells 11,592 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Prudential Financial Inc. trimmed its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 19.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,291 shares of the medical equipment provider's stock after selling 11,592 shares during the quarter. Prudential Financial Inc. owned about 0.06% of Align Technology worth $10,069,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC grew its stake in shares of Align Technology by 10,700.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider's stock valued at $27,000 after buying an additional 107 shares during the period. Picton Mahoney Asset Management grew its stake in Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock valued at $30,000 after acquiring an additional 58 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Align Technology during the third quarter valued at approximately $32,000. Private Trust Co. NA raised its position in shares of Align Technology by 113.4% during the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock worth $36,000 after purchasing an additional 93 shares during the period. Finally, Versant Capital Management Inc lifted its holdings in shares of Align Technology by 212.2% in the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider's stock worth $48,000 after purchasing an additional 157 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

A number of analysts have commented on the stock. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research note on Thursday, February 6th. Bank of America boosted their target price on shares of Align Technology from $200.00 to $206.00 and gave the stock an "underperform" rating in a research report on Friday, December 13th. Piper Sandler reaffirmed an "overweight" rating and issued a $235.00 price target (down previously from $270.00) on shares of Align Technology in a research report on Tuesday, March 18th. Leerink Partnrs raised Align Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Finally, Leerink Partners raised Align Technology from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $235.00 to $280.00 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 assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Align Technology currently has an average rating of "Moderate Buy" and an average target price of $262.64.

Align Technology Stock Up 2.1 %

Align Technology stock traded up $3.31 during trading on Wednesday, hitting $161.39. The stock had a trading volume of 158,541 shares, compared to its average volume of 829,582. The stock's 50 day moving average is $191.02 and its two-hundred day moving average is $213.38. Align Technology, Inc. has a 1 year low of $153.77 and a 1 year high of $331.64. The stock has a market cap of $11.88 billion, a price-to-earnings ratio of 28.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69.

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