Toronto Dominion Bank Trims Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Toronto Dominion Bank lessened its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 32.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,626 shares of the medical equipment provider's stock after selling 12,016 shares during the quarter. Toronto Dominion Bank's holdings in Align Technology were worth $6,263,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. 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 acquiring an additional 44 shares during the last quarter. Crewe Advisors LLC boosted its holdings in Align Technology by 36.8% in the second quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider's stock valued at $41,000 after purchasing an additional 46 shares during the last quarter. Empirical Finance LLC grew its position in Align Technology by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider's stock worth $632,000 after purchasing an additional 50 shares during the period. Daiwa Securities Group Inc. raised its stake in shares of 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 valued at $2,143,000 after buying an additional 54 shares during the last quarter. Finally, Lake Street Advisors Group LLC lifted its holdings in shares of Align Technology by 5.6% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,042 shares of the medical equipment provider's stock valued at $265,000 after buying an additional 55 shares during the period. Institutional investors and hedge funds own 88.43% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Mizuho started coverage on Align Technology in a report on Wednesday, December 4th. They set an "outperform" rating and a $295.00 target price on the stock. Bank of America lifted their target price on shares of Align Technology from $200.00 to $206.00 and gave the company an "underperform" rating in a report on Friday. Robert W. Baird lowered their price target on shares of Align Technology from $325.00 to $276.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Piper Sandler cut their price objective on shares of Align Technology from $285.00 to $275.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Finally, Stifel Nicolaus lowered their target price on shares of Align Technology from $285.00 to $275.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $271.20.

Align Technology Trading Down 0.1 %

NASDAQ:ALGN traded down $0.33 during trading hours on Friday, hitting $235.39. 519,180 shares of the stock were exchanged, compared to its average volume of 776,645. The firm's fifty day moving average price is $224.11 and its 200 day moving average price is $234.17. Align Technology, Inc. has a 52-week low of $196.09 and a 52-week high of $335.40. The company has a market cap of $17.57 billion, a P/E ratio of 40.17, a P/E/G ratio of 6.20 and a beta of 1.66.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.31 by $0.04. The firm had revenue of $977.87 million during the quarter, compared to analysts' expectations of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.62 earnings per share. Equities analysts expect that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.

About Align Technology

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.