Crossmark Global Holdings Inc. Sells 517 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Crossmark Global Holdings Inc. decreased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 14.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,960 shares of the medical equipment provider’s stock after selling 517 shares during the period. Crossmark Global Holdings Inc.’s holdings in Align Technology were worth $753,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Baker Avenue Asset Management LP bought a new position in shares of Align Technology during the third quarter valued at approximately $4,250,000. Covestor Ltd increased its position in Align Technology by 26.6% during the 3rd quarter. Covestor Ltd now owns 362 shares of the medical equipment provider’s stock valued at $92,000 after purchasing an additional 76 shares during the period. Capital Performance Advisors LLP bought a new position in Align Technology in the 3rd quarter worth $79,000. ARK Investment Management LLC lifted its position in shares of Align Technology by 5.3% in the 3rd quarter. ARK Investment Management LLC now owns 6,413 shares of the medical equipment provider’s stock worth $1,631,000 after purchasing an additional 322 shares during the period. Finally, Portside Wealth Group LLC bought a new stake in shares of Align Technology during the 3rd quarter valued at about $238,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ALGN shares. Piper Sandler decreased 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 note on Thursday, October 24th. Morgan Stanley decreased their target price on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Evercore ISI decreased their price objective on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Stifel Nicolaus lowered their price objective on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $276.38.

Align Technology Trading Up 0.9 %

Align Technology stock opened at $223.69 on Friday. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40. The company has a market capitalization of $16.70 billion, a price-to-earnings ratio of 38.81, a price-to-earnings-growth ratio of 5.57 and a beta of 1.65. The business’s fifty day simple moving average is $228.80 and its two-hundred day simple moving average is $240.79.

Align Technology (NASDAQ:ALGN) 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. The company had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. Align Technology’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 EPS. On average, equities research analysts predict that Align Technology, Inc. will post 7.45 EPS for the current 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.