Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 11,748 Shares of Align Technology, Inc. $ALGN

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its stake in Align Technology, Inc. (NASDAQ:ALGN) by 7.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 150,956 shares of the medical equipment provider’s stock after selling 11,748 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Align Technology were worth $20,530,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Ninety One UK Ltd grew its holdings in Align Technology by 18.3% during the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock worth $283,898,000 after buying an additional 350,883 shares in the last quarter. Federated Hermes Inc. boosted its holdings in Align Technology by 31.0% during the 2nd quarter. Federated Hermes Inc. now owns 926,733 shares of the medical equipment provider’s stock worth $175,458,000 after acquiring an additional 219,219 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its stake in shares of Align Technology by 0.9% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 844,987 shares of the medical equipment provider’s stock worth $159,981,000 after acquiring an additional 7,754 shares in the last quarter. Norges Bank bought a new stake in shares of Align Technology in the 2nd quarter worth $155,297,000. Finally, Navera Investment Management Ltd. raised its holdings in shares of Align Technology by 3.0% in the second quarter. Navera Investment Management Ltd. now owns 787,559 shares of the medical equipment provider’s stock valued at $149,126,000 after purchasing an additional 23,080 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Leerink Partners boosted their price target on shares of Align Technology from $172.00 to $189.00 in a report on Thursday, October 30th. Evercore ISI cut their target price on Align Technology from $220.00 to $170.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 25th. Wall Street Zen raised Align Technology from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Mizuho dropped their price target on Align Technology from $210.00 to $170.00 and set an “outperform” rating on the stock in a report on Monday, October 13th. Finally, Weiss Ratings cut Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $172.18.

Align Technology Trading Up 1.3%

ALGN stock opened at $172.79 on Monday. The company’s 50 day moving average is $151.60 and its 200 day moving average is $151.78. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 33.49, a price-to-earnings-growth ratio of 1.95 and a beta of 1.83. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $237.23.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.23. The business had revenue of $995.69 million during the quarter, compared to the consensus estimate of $980.75 million. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.35 earnings per share. As a group, sell-side analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

About Align Technology

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.