Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC decreased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 14.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,562 shares of the medical equipment provider’s stock after selling 254 shares during the quarter. Sentry Investment Management LLC’s holdings in Align Technology were worth $326,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of ALGN. Raymond James & Associates increased its position in shares of Align Technology by 17.6% in the 3rd quarter. Raymond James & Associates now owns 21,214 shares of the medical equipment provider’s stock valued at $5,395,000 after acquiring an additional 3,170 shares during the period. Sequoia Financial Advisors LLC grew its stake in Align Technology by 44.4% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 1,473 shares of the medical equipment provider’s stock valued at $375,000 after purchasing an additional 453 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Align Technology by 14.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,500 shares of the medical equipment provider’s stock valued at $2,166,000 after purchasing an additional 1,083 shares during the period. Forsta AP Fonden raised its stake in shares of Align Technology by 9.6% in the third quarter. Forsta AP Fonden now owns 14,800 shares of the medical equipment provider’s stock worth $3,764,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Arkadios Wealth Advisors lifted its holdings in shares of Align Technology by 31.2% during the third quarter. Arkadios Wealth Advisors now owns 1,233 shares of the medical equipment provider’s stock worth $314,000 after purchasing an additional 293 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Down 2.1 %

NASDAQ:ALGN opened at $186.62 on Wednesday. Align Technology, Inc. has a 52 week low of $183.26 and a 52 week high of $335.40. The stock’s 50-day moving average price is $213.42 and its 200-day moving average price is $224.07. The stock has a market capitalization of $13.93 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 2.24 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. Sell-side analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALGN. Evercore ISI increased their price target on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley cut their price objective on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Piper Sandler lowered their price target on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, Bank of America lifted their price objective on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $269.91.

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.