North Growth Management Ltd. Sells 1,000 Shares of Align Technology, Inc. (NASDAQ:ALGN)

North Growth Management Ltd. cut its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 3.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 32,000 shares of the medical equipment provider’s stock after selling 1,000 shares during the quarter. North Growth Management Ltd.’s holdings in Align Technology were worth $6,766,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Sanctuary Advisors LLC purchased a new position in shares of Align Technology during the second quarter valued at approximately $926,000. Czech National Bank increased its position in Align Technology by 7.2% during the 3rd quarter. Czech National Bank now owns 14,303 shares of the medical equipment provider’s stock valued at $3,638,000 after buying an additional 961 shares in the last quarter. Mather Group LLC. raised its stake in Align Technology by 51.6% during the third quarter. Mather Group LLC. now owns 185 shares of the medical equipment provider’s stock valued at $47,000 after buying an additional 63 shares during the last quarter. CWM LLC raised its stake in Align Technology by 59.3% during the third quarter. CWM LLC now owns 6,721 shares of the medical equipment provider’s stock valued at $1,709,000 after buying an additional 2,503 shares during the last quarter. Finally, Wedmont Private Capital boosted its holdings in Align Technology by 12.6% in the third quarter. Wedmont Private Capital now owns 1,409 shares of the medical equipment provider’s stock worth $331,000 after acquiring an additional 158 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Trading Down 3.6 %

Shares of ALGN opened at $210.55 on Friday. The firm has a market cap of $15.72 billion, a PE ratio of 37.53, a P/E/G ratio of 4.79 and a beta of 1.67. Align Technology, Inc. has a 1-year low of $196.09 and a 1-year high of $335.40. The firm has a fifty day simple moving average of $221.25 and a two-hundred day simple moving average of $225.83.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS 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%. As a group, research analysts forecast that Align Technology, Inc. will post 8.09 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ALGN shares. Jefferies Financial Group reduced their price target on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Evercore ISI lifted their target price on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday. Bank of America upped their target price 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. Stifel Nicolaus reduced their price target on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research report on Thursday. One analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $271.40.

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.