RDA Financial Network Sells 406 Shares of Align Technology, Inc. (NASDAQ:ALGN)

RDA Financial Network lessened its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 19.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,681 shares of the medical equipment provider’s stock after selling 406 shares during the period. RDA Financial Network’s holdings in Align Technology were worth $351,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. True Wealth Design LLC increased its holdings in shares of Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 107 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in Align Technology during the second quarter worth about $31,000. Quarry LP increased its stake in Align Technology by 53.0% in the 2nd 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. Neo Ivy Capital Management bought a new stake in shares of Align Technology during the 3rd quarter valued at about $32,000. Finally, CVA Family Office LLC boosted its position in shares of Align Technology by 85.2% during the 3rd quarter. CVA Family Office LLC now owns 150 shares of the medical equipment provider’s stock valued at $38,000 after acquiring an additional 69 shares during the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird dropped their price objective on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus cut their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. Finally, Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $268.20.

Align Technology Trading Up 2.4 %

NASDAQ ALGN opened at $224.23 on Friday. The firm has a market cap of $16.74 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 4.64 and a beta of 1.67. Align Technology, Inc. has a 1-year low of $196.09 and a 1-year high of $335.40. The stock has a 50-day moving average of $222.03 and a 200-day moving average of $228.37.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $990.05 million. During the same quarter in the previous year, the company posted $1.62 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. As a group, equities research analysts forecast that Align Technology, Inc. will post 7.44 earnings per share for the current fiscal year.

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.