Atomi Financial Group Inc. Sells 476 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Atomi Financial Group Inc. lowered its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 24.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,484 shares of the medical equipment provider’s stock after selling 476 shares during the quarter. Atomi Financial Group Inc.’s holdings in Align Technology were worth $309,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Baker Avenue Asset Management LP acquired a new position in Align Technology in the third quarter valued at about $4,250,000. Swedbank AB lifted its position in shares of Align Technology by 30.1% during the third quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock worth $98,960,000 after purchasing an additional 90,000 shares in the last quarter. KBC Group NV lifted its position in shares of Align Technology by 11.8% during the third quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock worth $13,595,000 after purchasing an additional 5,663 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Align Technology by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock worth $56,870,000 after purchasing an additional 9,139 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Align Technology by 2.6% during the third quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock worth $26,900,000 after purchasing an additional 2,717 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

Shares of NASDAQ:ALGN opened at $233.30 on Friday. Align Technology, Inc. has a 52 week low of $196.09 and a 52 week high of $335.40. The company has a market capitalization of $17.42 billion, a PE ratio of 39.81, a PEG ratio of 5.14 and a beta of 1.67. The company has a 50 day moving average price of $223.06 and a two-hundred day moving average price of $227.81.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The firm had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. During the same quarter in the prior year, the firm earned $1.62 earnings per share. The business’s quarterly revenue was up 1.8% on a year-over-year basis. On average, sell-side analysts forecast that Align Technology, Inc. will post 7.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Jefferies Financial Group reduced their target price on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley reduced their target price on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Stifel Nicolaus reduced their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, Robert W. Baird cut their price objective on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $267.45.

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.