Align Technology, Inc. $ALGN Stock Position Lessened by Curated Wealth Partners LLC

Curated Wealth Partners LLC cut its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 98.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,685 shares of the medical equipment provider’s stock after selling 433,734 shares during the period. Curated Wealth Partners LLC’s holdings in Align Technology were worth $907,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Blue Trust Inc. raised its holdings in shares of Align Technology by 77.5% in the 1st quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 69 shares during the last quarter. Tobam bought a new position in Align Technology in the 4th quarter valued at about $30,000. Hollencrest Capital Management bought a new position in Align Technology in the 1st quarter valued at about $34,000. Osterweis Capital Management Inc. acquired a new position in Align Technology during the 2nd quarter valued at about $36,000. Finally, Global Retirement Partners LLC acquired a new position in Align Technology during the 2nd quarter valued at about $38,000. 88.43% of the stock is owned by institutional investors.

Align Technology Stock Performance

Shares of ALGN stock opened at $149.34 on Friday. Align Technology, Inc. has a 52-week low of $128.65 and a 52-week high of $200.43. The company has a 50-day simple moving average of $154.54 and a two-hundred day simple moving average of $167.32. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of 25.97, a PEG ratio of 1.54 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $2.64 EPS for the quarter, beating the consensus estimate of $2.62 by $0.02. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the business posted $2.49 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, sell-side analysts forecast that Align Technology, Inc. will post 9.36 EPS for the current fiscal year.

Analyst Ratings Changes

ALGN has been the subject of a number of recent research reports. BMO Capital Markets started coverage on Align Technology in a report on Wednesday, July 8th. They set an “outperform” rating and a $209.00 price objective for the company. Weiss Ratings raised Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 9th. UBS Group restated a “neutral” rating and issued a $189.00 target price on shares of Align Technology in a report on Thursday, July 23rd. Wall Street Zen lowered Align Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Leerink Partners cut their target price on Align Technology from $235.00 to $215.00 and set an “outperform” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Align Technology presently has an average rating of “Moderate Buy” and a consensus price target of $194.14.

Align Technology Profile

Align Technology, Inc is a medical device and digital technology company that designs, manufactures and markets products used in orthodontics and restorative dentistry. The company is best known for Invisalign clear aligners, which are custom-made orthodontic devices intended to gradually move patients’ teeth under the supervision of dental professionals.

Align also develops the iTero family of intraoral scanners and related digital imaging systems, which help dental professionals create digital impressions and treatment plans.