Align Technology, Inc. (NASDAQ:ALGN) Holdings Decreased by Wellington Management Group LLP

Wellington Management Group LLP lowered its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 9.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,384,816 shares of the medical equipment provider's stock after selling 249,784 shares during the period. Wellington Management Group LLP owned 3.24% of Align Technology worth $497,258,000 as of its most recent filing with the SEC.

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

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Align Technology Trading Down 5.9 %

Shares of NASDAQ ALGN traded down $9.74 during mid-day trading on Thursday, reaching $154.24. The company had a trading volume of 1,873,337 shares, compared to its average volume of 836,181. The company has a 50-day moving average price of $189.66 and a two-hundred day moving average price of $213.03. The stock has a market cap of $11.35 billion, a PE ratio of 27.49, a P/E/G ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 1-year low of $151.09 and a 1-year high of $331.64.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings results 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%. On average, research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on ALGN. Jefferies Financial Group lowered their price target on Align Technology from $285.00 to $260.00 and set a "buy" rating on the stock in a report on Thursday, January 23rd. Mizuho lowered their target price on shares of Align Technology from $295.00 to $250.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 25th. Morgan Stanley reduced their price target on shares of Align Technology from $280.00 to $272.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Evercore ISI raised their price objective on shares of Align Technology from $240.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. Finally, Piper Sandler reissued an "overweight" rating and set a $235.00 target price (down previously from $270.00) on shares of Align Technology in a report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $262.64.

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.