Align Technology, Inc. (NASDAQ:ALGN) Stock Holdings Trimmed by Y.D. More Investments Ltd

Y.D. More Investments Ltd decreased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 40.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 933 shares of the medical equipment provider’s stock after selling 633 shares during the quarter. Y.D. More Investments Ltd’s holdings in Align Technology were worth $330,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ALGN. Manchester Capital Management LLC acquired a new position in Align Technology during the 1st quarter valued at about $26,000. KB Financial Partners LLC acquired a new position in shares of Align Technology during the first quarter valued at approximately $26,000. Zions Bancorporation N.A. raised its holdings in Align Technology by 85.5% during the fourth quarter. Zions Bancorporation N.A. now owns 128 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 59 shares in the last quarter. Ronald Blue Trust Inc. lifted its position in Align Technology by 42.6% in the first quarter. Ronald Blue Trust Inc. now owns 134 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 40 shares during the period. Finally, CVA Family Office LLC lifted its position in Align Technology by 46.7% in the first quarter. CVA Family Office LLC now owns 110 shares of the medical equipment provider’s stock worth $37,000 after purchasing an additional 35 shares during the period. 87.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Robert W. Baird boosted their price objective on Align Technology from $385.00 to $406.00 in a research note on Thursday, July 27th. Morgan Stanley upped their price target on shares of Align Technology from $383.00 to $415.00 and gave the company an “overweight” rating in a report on Thursday, July 27th. HSBC initiated coverage on shares of Align Technology in a research note on Wednesday, August 30th. They issued a “buy” rating and a $450.00 price objective on the stock. Jefferies Financial Group increased their target price on shares of Align Technology from $367.00 to $400.00 in a research note on Thursday, July 27th. Finally, Stifel Nicolaus lifted their price target on shares of Align Technology from $390.00 to $430.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and an average price target of $380.33.

Align Technology Stock Performance

NASDAQ ALGN opened at $325.32 on Tuesday. The firm’s 50 day moving average price is $354.79 and its two-hundred day moving average price is $331.92. The stock has a market cap of $24.90 billion, a price-to-earnings ratio of 79.93, a PEG ratio of 2.64 and a beta of 1.63. Align Technology, Inc. has a twelve month low of $172.05 and a twelve month high of $413.20.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, July 26th. The medical equipment provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.64 by $0.09. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $985.87 million. Align Technology had a return on equity of 11.42% and a net margin of 8.40%. On average, research analysts forecast that Align Technology, Inc. will post 7.2 EPS 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, China, and internationally. It operates in two segments, Clear Aligner; and Imaging Systems and CAD/CAM Services (Systems and Services).