Oppenheimer & Co. Inc. Sells 427 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Oppenheimer & Co. Inc. cut its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,795 shares of the medical equipment provider’s stock after selling 427 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Align Technology were worth $2,745,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Achmea Investment Management B.V. increased its holdings in shares of Align Technology by 3.4% during the second quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider’s stock valued at $2,495,000 after acquiring an additional 339 shares in the last quarter. Tidal Investments LLC raised its holdings in Align Technology by 122.9% during the first quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock worth $1,445,000 after buying an additional 2,430 shares during the last quarter. Swedbank AB lifted its stake in shares of Align Technology by 2.0% in the second quarter. Swedbank AB now owns 299,115 shares of the medical equipment provider’s stock valued at $72,215,000 after buying an additional 6,005 shares in the last quarter. Baker Avenue Asset Management LP acquired a new position in shares of Align Technology during the third quarter valued at about $4,250,000. Finally, Cetera Investment Advisers increased its position in shares of Align Technology by 914.2% during the first quarter. Cetera Investment Advisers now owns 12,627 shares of the medical equipment provider’s stock worth $4,140,000 after acquiring an additional 11,382 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Performance

Shares of NASDAQ ALGN opened at $223.69 on Friday. The stock has a fifty day moving average of $228.85 and a 200-day moving average of $240.23. The stock has a market cap of $16.70 billion, a PE ratio of 38.17, a price-to-earnings-growth ratio of 5.57 and a beta of 1.65. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.04. The company had revenue of $977.87 million during the quarter, compared to analysts’ expectations of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. Align Technology’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.62 EPS. On average, sell-side analysts predict that Align Technology, Inc. will post 7.45 EPS for the current year.

Wall Street Analyst Weigh In

ALGN has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. Robert W. Baird cut their target price on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Piper Sandler cut their price objective on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Evercore ISI lowered their target price on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Align Technology has a consensus rating of “Hold” and an average price target of $276.38.

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.