Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC lessened its stake in Align Technology, Inc. (NASDAQ:ALGN) by 2.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,220 shares of the medical equipment provider’s stock after selling 254 shares during the quarter. Yousif Capital Management LLC’s holdings in Align Technology were worth $3,074,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Deepwater Asset Management LLC increased its holdings in Align Technology by 46.8% in the fourth quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock valued at $13,421,000 after buying an additional 15,608 shares in the last quarter. London & Capital Asset Management Ltd raised its holdings in Align Technology by 7.1% during the fourth quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider’s stock worth $15,899,000 after purchasing an additional 3,843 shares during the last quarter. Morgan Stanley boosted its position in Align Technology by 9.8% during the third quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock worth $310,866,000 after purchasing an additional 90,581 shares in the last quarter. Illinois Municipal Retirement Fund grew its holdings in Align Technology by 20.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 33,344 shares of the medical equipment provider’s stock valued at $9,136,000 after purchasing an additional 5,759 shares during the last quarter. Finally, Country Trust Bank grew its holdings in Align Technology by 27.7% in the fourth quarter. Country Trust Bank now owns 80,830 shares of the medical equipment provider’s stock valued at $22,147,000 after purchasing an additional 17,515 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ALGN shares. SVB Leerink assumed coverage on shares of Align Technology in a research report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price objective on the stock. The Goldman Sachs Group raised their price objective on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research note on Friday, February 2nd. Stifel Nicolaus upped their target price on Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. UBS Group increased their target price on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Finally, Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $353.00.

Insider Buying and Selling

In other Align Technology news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Align Technology news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares of the company’s stock, valued at $203,802.05. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the sale, the director now owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 27,524 shares of company stock valued at $8,403,924. Insiders own 0.64% of the company’s stock.

Align Technology Stock Down 0.5 %

Shares of NASDAQ:ALGN opened at $309.02 on Monday. The company has a market cap of $23.25 billion, a P/E ratio of 50.91, a P/E/G ratio of 5.53 and a beta of 1.65. The business has a fifty day simple moving average of $313.38 and a 200-day simple moving average of $270.82. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $413.20.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, beating the consensus estimate of $1.78 by $0.13. The company had revenue of $956.73 million during the quarter, compared to analysts’ expectations of $928.57 million. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. Sell-side analysts expect that Align Technology, Inc. will post 7.69 earnings per share for the current fiscal year.

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.