Quadrature Capital Ltd Lowers Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Quadrature Capital Ltd cut its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 75.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,783 shares of the medical equipment provider's stock after selling 45,482 shares during the period. Quadrature Capital Ltd's holdings in Align Technology were worth $3,761,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ALGN. Cetera Investment Advisers grew its holdings in shares of Align Technology by 914.2% in the first quarter. Cetera Investment Advisers now owns 12,627 shares of the medical equipment provider's stock valued at $4,140,000 after acquiring an additional 11,382 shares in the last quarter. Cetera Advisors LLC bought a new position in Align Technology during the first quarter valued at about $337,000. Mather Group LLC. grew its position in Align Technology by 52.5% during the second quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider's stock valued at $29,000 after buying an additional 42 shares during the period. CWM LLC grew its position in Align Technology by 10.9% during the second quarter. CWM LLC now owns 4,218 shares of the medical equipment provider's stock valued at $1,018,000 after buying an additional 415 shares during the period. Finally, Valeo Financial Advisors LLC bought a new position in Align Technology during the second quarter valued at about $301,000. 88.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ALGN. Stifel Nicolaus reduced their price target on shares of Align Technology from $285.00 to $275.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research report on Monday, November 4th. Piper Sandler reduced their price target on shares of Align Technology from $285.00 to $275.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Morgan Stanley reduced their price target on shares of Align Technology from $310.00 to $280.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Finally, StockNews.com upgraded shares of Align Technology from a "hold" rating to a "buy" rating in a research report on Thursday, September 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $278.44.

Align Technology Trading Up 2.0 %

Shares of Align Technology stock traded up $4.54 on Friday, reaching $232.35. The stock had a trading volume of 560,642 shares, compared to its average volume of 782,340. Align Technology, Inc. has a 1 year low of $196.09 and a 1 year high of $335.40. The company has a market cap of $17.35 billion, a P/E ratio of 39.65, a price-to-earnings-growth ratio of 6.06 and a beta of 1.66. The business's 50 day moving average is $225.18 and its two-hundred day moving average is $235.40.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The firm had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. During the same period in the prior year, the firm posted $1.62 earnings per share. The company's revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities analysts anticipate that Align Technology, Inc. will post 7.45 EPS 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.