Yarbrough Capital LLC Sells 556 Shares of Align Technology, Inc. (NASDAQ:ALGN)

by · The Cerbat Gem

Yarbrough Capital LLC cut its stake in shares of Align Technology, Inc. (NASDAQ:ALGNFree Report) by 24.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 1,722 shares of the medical equipment provider’s stock after selling 556 shares during the quarter. Yarbrough Capital LLC’s holdings in Align Technology were worth $359,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of ALGN. Quarry LP boosted its position 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 purchasing an additional 44 shares during the period. Empirical Finance LLC lifted its stake in shares of Align Technology by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock valued at $632,000 after buying an additional 50 shares in the last quarter. Lake Street Advisors Group LLC boosted its holdings in Align Technology by 5.6% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,042 shares of the medical equipment provider’s stock worth $265,000 after buying an additional 55 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Align Technology by 8.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 687 shares of the medical equipment provider’s stock worth $166,000 after buying an additional 56 shares in the last quarter. Finally, Crestwood Advisors Group LLC raised its holdings in Align Technology by 6.6% during the third quarter. Crestwood Advisors Group LLC now owns 1,000 shares of the medical equipment provider’s stock valued at $254,000 after acquiring an additional 62 shares during the period. Institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ALGN shares. Bank of America increased their target price on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Morgan Stanley dropped their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Finally, Mizuho assumed coverage on shares of Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 target price for the company. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and an average target price of $268.20.

View Our Latest Research Report on ALGN

Align Technology Stock Performance

Shares of NASDAQ ALGN opened at $218.91 on Friday. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40. The company has a market cap of $16.34 billion, a price-to-earnings ratio of 37.36, a PEG ratio of 4.64 and a beta of 1.67. The business’s 50 day moving average price is $222.10 and its 200-day moving average price is $228.44.

Align Technology (NASDAQ:ALGNGet Free Report) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The business 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% compared to the same quarter last year. During the same quarter last year, the firm posted $1.62 earnings per share. Sell-side analysts predict that Align Technology, Inc. will post 7.44 earnings per share for the current year.

Align Technology Company Profile

(Free Report)

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.

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