Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $52.50 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 8.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,436 shares of the medical equipment provider’s stock after selling 18,192 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Align Technology were worth $52,501,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. LRI Investments LLC acquired a new stake in shares of Align Technology in the 1st quarter valued at about $29,000. Cullen Frost Bankers Inc. boosted its position in Align Technology by 854.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 94 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of Align Technology during the 2nd quarter worth approximately $26,000. Innealta Capital LLC bought a new position in shares of Align Technology during the 2nd quarter worth approximately $26,000. Finally, Versant Capital Management Inc raised its holdings in shares of Align Technology by 547.1% in the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 93 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Trading Up 0.9 %

NASDAQ:ALGN traded up $1.97 on Wednesday, hitting $214.75. The company’s stock had a trading volume of 95,707 shares, compared to its average volume of 778,426. Align Technology, Inc. has a one year low of $178.52 and a one year high of $335.40. The firm has a market capitalization of $16.04 billion, a P/E ratio of 36.31, a price-to-earnings-growth ratio of 5.33 and a beta of 1.64. The stock has a fifty day moving average of $232.51 and a two-hundred day moving average of $247.42.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.04. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The business had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. During the same quarter last year, the firm posted $1.62 EPS. The company’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Align Technology, Inc. will post 7.61 EPS for the current year.

Insider Transactions at Align Technology

In related news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the purchase, the director now owns 28,247 shares in the company, valued at approximately $6,647,366.51. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.62% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on ALGN shares. Evercore ISI reduced their target price on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Robert W. Baird reduced their price objective on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research report on Thursday, October 24th. Morgan Stanley dropped their target price on Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Align Technology presently has a consensus rating of “Hold” and an average target price of $276.38.

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.