Champlain Investment Partners LLC Sells 12,830 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Champlain Investment Partners LLC lessened its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 2.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 534,629 shares of the medical equipment provider’s stock after selling 12,830 shares during the period. Champlain Investment Partners LLC’s holdings in Align Technology were worth $135,967,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALGN. Bank of New York Mellon Corp raised its position in Align Technology by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 1,148,282 shares of the medical equipment provider’s stock worth $277,230,000 after acquiring an additional 15,540 shares during the period. Ninety One UK Ltd increased its stake in shares of Align Technology by 1.0% in the 2nd quarter. Ninety One UK Ltd now owns 1,147,124 shares of the medical equipment provider’s stock worth $276,950,000 after purchasing an additional 10,919 shares in the last quarter. Bares Capital Management Inc. raised its holdings in Align Technology by 44.4% in the 1st quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock worth $268,871,000 after purchasing an additional 252,220 shares during the period. Disciplined Growth Investors Inc. MN lifted its position in Align Technology by 0.5% during the second quarter. Disciplined Growth Investors Inc. MN now owns 707,542 shares of the medical equipment provider’s stock valued at $170,822,000 after purchasing an additional 3,600 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its holdings in Align Technology by 4,391.3% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 488,251 shares of the medical equipment provider’s stock valued at $117,879,000 after purchasing an additional 477,380 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

Shares of NASDAQ ALGN opened at $225.89 on Friday. The company has a market cap of $16.86 billion, a P/E ratio of 38.55, a P/E/G ratio of 5.77 and a beta of 1.65. Align Technology, Inc. has a 52-week low of $196.09 and a 52-week high of $335.40. The firm’s fifty day moving average is $228.54 and its two-hundred day moving average is $238.16.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The firm had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. During the same period in the previous year, the firm posted $1.62 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year. As a group, analysts forecast that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ALGN shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Stifel Nicolaus decreased their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird lowered their price target on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Finally, Piper Sandler lowered their target price on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Align Technology presently has a consensus rating of “Hold” and a consensus price target of $276.38.

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.