Align Technology, Inc. (NASDAQ:ALGN) Position Decreased by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust trimmed its position in Align Technology, Inc. (NASDAQ:ALGN) by 8.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 888 shares of the medical equipment provider’s stock after selling 87 shares during the period. Parkside Financial Bank & Trust’s holdings in Align Technology were worth $185,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC boosted its position in shares of Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 107 shares during the period. Neo Ivy Capital Management purchased a new stake in Align Technology in the 3rd quarter worth about $32,000. Versant Capital Management Inc boosted its position in Align Technology by 212.2% during the 4th 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 during the period. Newbridge Financial Services Group Inc. acquired a new stake in Align Technology during the 4th quarter worth about $52,000. Finally, Quarry LP boosted its position in Align Technology by 74.8% during the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 95 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Price Performance

Shares of Align Technology stock opened at $187.03 on Friday. The firm has a market cap of $13.96 billion, a price-to-earnings ratio of 33.34, a P/E/G ratio of 2.24 and a beta of 1.67. Align Technology, Inc. has a 52-week low of $183.24 and a 52-week high of $335.40. The stock has a 50-day simple moving average of $211.95 and a 200-day simple moving average of $223.41.

Align Technology (NASDAQ:ALGN) last announced its quarterly 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%. As a group, equities research analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on ALGN. Piper Sandler decreased their price objective on Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Bank of America raised their price objective on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Mizuho began coverage on Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective for the company. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group decreased their price objective on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $269.91.

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.