Integrated Wealth Concepts LLC Sells 66 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Integrated Wealth Concepts LLC lowered its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1.8% in the third quarter, Holdings Channel reports. The firm owned 3,680 shares of the medical equipment provider’s stock after selling 66 shares during the period. Integrated Wealth Concepts LLC’s holdings in Align Technology were worth $937,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quarry LP grew its stake in shares of Align Technology by 53.0% in the second quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 44 shares during the last quarter. Crewe Advisors LLC increased its stake in Align Technology by 36.8% during the second quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider’s stock valued at $41,000 after acquiring an additional 46 shares during the period. Empirical Finance LLC raised its holdings in Align Technology by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock valued at $632,000 after acquiring an additional 50 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Align Technology by 0.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider’s stock worth $2,143,000 after acquiring an additional 54 shares during the period. Finally, Lake Street Advisors Group LLC grew its holdings in shares of Align Technology by 5.6% during the 3rd quarter. Lake Street Advisors Group LLC now owns 1,042 shares of the medical equipment provider’s stock worth $265,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of ALGN opened at $237.57 on Tuesday. The company has a market capitalization of $17.74 billion, a P/E ratio of 40.54, a PEG ratio of 6.02 and a beta of 1.66. Align Technology, Inc. has a one year low of $196.09 and a one year high of $335.40. The business’s 50 day simple moving average is $224.39 and its 200-day simple moving average is $234.67.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The company had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.62 earnings per share. On average, sell-side analysts anticipate that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.

Analysts Set New Price Targets

ALGN has been the subject of a number of recent research reports. Piper Sandler cut their target price on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Mizuho began coverage on shares of Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective for the company. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Finally, Evercore ISI cut their price target on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $278.44.

About Align Technology

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.