Equitable Trust Co. Has $311,000 Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Equitable Trust Co. lowered its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,490 shares of the medical equipment provider’s stock after selling 50 shares during the period. Equitable Trust Co.’s holdings in Align Technology were worth $311,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. True Wealth Design LLC raised its stake in Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 107 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Align Technology in the third quarter valued at about $32,000. Versant Capital Management Inc raised its stake in Align Technology by 212.2% in the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after purchasing an additional 157 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Align Technology in the fourth quarter valued at about $52,000. Finally, Quarry LP raised its stake in Align Technology by 74.8% in the third quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 95 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ALGN shares. Stifel Nicolaus dropped their price target on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Bank of America boosted their target price on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Mizuho started coverage on Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 target price for the company. Jefferies Financial Group lowered their target price on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Finally, Leerink Partnrs raised Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $271.40.

Align Technology Trading Down 0.7 %

NASDAQ:ALGN opened at $210.52 on Wednesday. The stock has a market cap of $15.72 billion, a P/E ratio of 37.53, a price-to-earnings-growth ratio of 4.79 and a beta of 1.67. The stock’s 50-day moving average is $220.81 and its 200-day moving average is $225.42. Align Technology, Inc. has a 1-year low of $196.09 and a 1-year high of $335.40.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. As a group, equities analysts forecast that Align Technology, Inc. will post 8.09 EPS for the current year.

Align Technology 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.