Jackson Square Partners LLC Sells 7,011 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Jackson Square Partners LLC lowered its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 118,644 shares of the medical equipment provider’s stock after selling 7,011 shares during the quarter. Align Technology accounts for 2.7% of Jackson Square Partners LLC’s holdings, making the stock its 12th largest position. Jackson Square Partners LLC’s holdings in Align Technology were worth $24,738,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. True Wealth Design LLC increased its stake in Align Technology by 10,700.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 107 shares during the last quarter. Picton Mahoney Asset Management lifted its position in Align Technology by 69.9% during the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 58 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Align Technology in the 3rd quarter worth about $32,000. Private Trust Co. NA lifted its holdings in shares of Align Technology by 113.4% in the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 93 shares during the last quarter. Finally, Versant Capital Management Inc grew its position 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 worth $48,000 after acquiring an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Trading Up 1.0 %

ALGN opened at $170.37 on Tuesday. The firm has a market cap of $12.54 billion, a price-to-earnings ratio of 30.37, a PEG ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 12 month low of $158.13 and a 12 month high of $331.64. The stock has a fifty day moving average price of $197.91 and a 200-day moving average price of $216.13.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results 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%. On average, equities research analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group lowered their price objective 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. Bank of America lifted their price objective on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Wells Fargo & Company assumed coverage on shares of Align Technology in a research note on Friday, February 14th. They issued an “overweight” rating and a $255.00 target price on the stock. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Evercore ISI increased their price objective on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.73.

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.