Dohj LLC Cuts Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Dohj LLC trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,518 shares of the medical equipment provider’s stock after selling 93 shares during the period. Dohj LLC’s holdings in Align Technology were worth $498,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ALGN. Mather Group LLC. acquired a new stake in shares of Align Technology during the first quarter worth $26,000. Orion Capital Management LLC acquired a new stake in shares of Align Technology during the third quarter worth $61,000. Valley National Advisers Inc. boosted its holdings in shares of Align Technology by 29.7% during the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock worth $65,000 after purchasing an additional 49 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Align Technology by 97.2% during the fourth quarter. Venturi Wealth Management LLC now owns 280 shares of the medical equipment provider’s stock worth $77,000 after purchasing an additional 138 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in shares of Align Technology during the fourth quarter worth $86,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALGN has been the topic of several analyst reports. Evercore ISI decreased their price objective on Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a report on Monday, June 10th. Robert W. Baird increased their target price on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. Morgan Stanley increased their target price on Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Stifel Nicolaus increased their target price on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, OTR Global reaffirmed a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $346.50.

Align Technology Stock Performance

Shares of NASDAQ ALGN traded down $0.61 during midday trading on Thursday, reaching $243.00. 680,440 shares of the company’s stock were exchanged, compared to its average volume of 768,756. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $413.20. The stock has a market capitalization of $18.29 billion, a PE ratio of 40.00, a price-to-earnings-growth ratio of 4.35 and a beta of 1.62. The business’s fifty day moving average price is $269.00 and its two-hundred day moving average price is $283.36.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.08. The business had revenue of $997.43 million for the quarter, compared to analyst estimates of $971.97 million. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. Analysts predict that Align Technology, Inc. will post 7.86 earnings per share for the current fiscal year.

Align Technology Company Profile

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.