Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. trimmed its position in Align Technology, Inc. (NASDAQ:ALGN) by 91.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 360 shares of the medical equipment provider’s stock after selling 4,045 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Align Technology were worth $92,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Fisher Asset Management LLC lifted its position in shares of Align Technology by 2.6% in the third quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock valued at $26,900,000 after acquiring an additional 2,717 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in Align Technology by 10.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 9,804 shares of the medical equipment provider’s stock valued at $2,493,000 after purchasing an additional 928 shares during the last quarter. Senvest Management LLC lifted its holdings in Align Technology by 76.4% in the 3rd quarter. Senvest Management LLC now owns 459,243 shares of the medical equipment provider’s stock valued at $116,795,000 after purchasing an additional 198,893 shares in the last quarter. Swedbank AB boosted its stake in Align Technology by 30.1% during the 3rd 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 during the last quarter. Finally, Algert Global LLC grew its holdings in shares of Align Technology by 46.7% during the third quarter. Algert Global LLC now owns 2,022 shares of the medical equipment provider’s stock worth $514,000 after buying an additional 644 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Trading Up 0.8 %

Shares of ALGN opened at $229.66 on Friday. The company’s 50-day moving average price is $226.83 and its 200 day moving average price is $236.87. Align Technology, Inc. has a 12-month low of $196.09 and a 12-month high of $335.40. The firm has a market cap of $17.14 billion, a P/E ratio of 39.19, a price-to-earnings-growth ratio of 6.23 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The business had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The business’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.62 EPS. Equities research analysts forecast that Align Technology, Inc. will post 7.45 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Morgan Stanley dropped their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Piper Sandler cut their price target on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Evercore ISI lowered their price objective on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $276.38.

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.