Savant Capital LLC Decreases Stock Holdings in Align Technology, Inc. $ALGN

Savant Capital LLC lowered its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 60.4% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,301 shares of the medical equipment provider’s stock after selling 11,128 shares during the period. Savant Capital LLC’s holdings in Align Technology were worth $914,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Align Technology by 38.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 15,551 shares of the medical equipment provider’s stock worth $2,029,000 after purchasing an additional 4,359 shares during the period. AE Wealth Management LLC purchased a new stake in Align Technology during the third quarter valued at approximately $650,000. Hussman Strategic Advisors Inc. purchased a new stake in Align Technology during the third quarter valued at approximately $3,156,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Align Technology during the third quarter valued at approximately $1,327,000. Finally, Nordea Investment Management AB raised its position in Align Technology by 20.7% in the third quarter. Nordea Investment Management AB now owns 770,360 shares of the medical equipment provider’s stock worth $95,178,000 after acquiring an additional 132,019 shares during the period. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Up 2.0%

NASDAQ ALGN opened at $196.27 on Wednesday. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $212.23. The business has a 50-day moving average price of $165.09 and a 200-day moving average price of $147.92. The firm has a market cap of $14.08 billion, a price-to-earnings ratio of 34.68, a price-to-earnings-growth ratio of 2.16 and a beta of 1.84.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.30. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm earned $2.44 EPS. The firm’s revenue was up 5.3% compared to the same quarter last year. Research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Analysts Set New Price Targets

ALGN has been the subject of a number of recent research reports. Weiss Ratings raised shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. UBS Group boosted their price target on Align Technology from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Thursday, October 30th. Jefferies Financial Group lifted their price objective on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Finally, Leerink Partners boosted their price objective on Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $195.92.

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.