MONECO Advisors LLC Sells 199 Shares of Align Technology, Inc. (NASDAQ:ALGN)

MONECO Advisors LLC cut its position in Align Technology, Inc. (NASDAQ:ALGN) by 15.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,117 shares of the medical equipment provider’s stock after selling 199 shares during the quarter. MONECO Advisors LLC’s holdings in Align Technology were worth $233,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. True Wealth Design LLC raised its stake in shares of 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 buying an additional 107 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Align Technology in the third quarter valued at $32,000. Quarry LP grew its position in shares of 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. Versant Capital Management Inc grew its position in shares of 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. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Align Technology in the fourth quarter valued at $52,000. 88.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ALGN has been the subject of several recent research reports. Wells Fargo & Company initiated coverage on Align Technology in a research report on Friday, February 14th. They issued an “overweight” rating and a $255.00 price target for the company. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Piper Sandler reduced their price target on Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Bank of America lifted their price target on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Finally, Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $235.00 to $280.00 in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $269.91.

Align Technology Trading Down 2.1 %

ALGN opened at $186.62 on Wednesday. Align Technology, Inc. has a 12-month low of $183.26 and a 12-month high of $335.40. The stock has a 50-day moving average price of $213.42 and a 200-day moving average price of $224.07. The stock has a market capitalization of $13.93 billion, a P/E ratio of 33.27, a PEG ratio of 2.24 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. On average, equities research analysts predict that Align Technology, Inc. will post 7.98 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.