Wilmington Savings Fund Society FSB Trims Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Wilmington Savings Fund Society FSB lowered its position in Align Technology, Inc. (NASDAQ:ALGN) by 28.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 219 shares of the medical equipment provider’s stock after selling 87 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Align Technology were worth $46,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of ALGN. Wellington Management Group LLP lifted its position in Align Technology by 49.0% during the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after purchasing an additional 866,663 shares during the period. Holocene Advisors LP purchased a new position in shares of Align Technology during the 3rd quarter valued at about $137,287,000. FMR LLC lifted its holdings in Align Technology by 43.0% in the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock valued at $310,736,000 after acquiring an additional 367,508 shares during the period. Point72 Asset Management L.P. boosted its position in Align Technology by 96.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock worth $171,493,000 after purchasing an additional 330,807 shares in the last quarter. Finally, Senvest Management LLC grew its stake in shares of Align Technology by 76.4% during the 3rd quarter. Senvest Management LLC now owns 459,243 shares of the medical equipment provider’s stock worth $116,795,000 after purchasing an additional 198,893 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Trading Down 0.2 %

Shares of NASDAQ ALGN opened at $204.89 on Friday. Align Technology, Inc. has a 12-month low of $196.09 and a 12-month high of $335.40. The stock has a market cap of $15.30 billion, a PE ratio of 36.52, a P/E/G ratio of 4.79 and a beta of 1.67. The company has a 50-day moving average of $219.74 and a 200 day moving average of $225.21.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (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, sell-side analysts forecast that Align Technology, Inc. will post 8.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALGN. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and raised their target price for the company from $235.00 to $280.00 in a research report on Monday, January 6th. Mizuho began coverage on shares of Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price target on the stock. Morgan Stanley reduced their price objective on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and an average price target of $271.40.

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.