Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Progressive Investment Management Corp

Progressive Investment Management Corp decreased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,997 shares of the medical equipment provider’s stock after selling 468 shares during the quarter. Progressive Investment Management Corp’s holdings in Align Technology were worth $2,293,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ALGN. Wellington Management Group LLP boosted its stake in Align Technology by 49.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after acquiring an additional 866,663 shares during the last quarter. Geode Capital Management LLC grew its stake in Align Technology by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock worth $443,810,000 after purchasing an additional 21,605 shares in the last quarter. FMR LLC grew its stake 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 worth $310,736,000 after purchasing an additional 367,508 shares in the last quarter. Ninety One UK Ltd increased its holdings in Align Technology by 3.7% in the fourth quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider’s stock valued at $254,508,000 after buying an additional 43,524 shares during the last quarter. Finally, Norges Bank acquired a new stake in Align Technology during the fourth quarter valued at approximately $190,792,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

Shares of ALGN stock opened at $159.21 on Friday. The firm has a market capitalization of $11.72 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 1 year low of $157.57 and a 1 year high of $331.64. The stock has a fifty day moving average of $193.72 and a two-hundred day moving average of $214.64.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (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%. Equities research analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ALGN shares. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $235.00 to $280.00 in a report on Monday, January 6th. Jefferies Financial Group reduced their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company began coverage on shares of Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 price objective for the company. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Evercore ISI upped their target price on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and an average price target of $262.64.

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.