Sei Investments Co. Trims Position in Align Technology, Inc. (NASDAQ:ALGN)

Sei Investments Co. trimmed its position in Align Technology, Inc. (NASDAQ:ALGN) by 4.2% during the 4th quarter, HoldingsChannel reports. The firm owned 84,861 shares of the medical equipment provider’s stock after selling 3,677 shares during the period. Sei Investments Co.’s holdings in Align Technology were worth $17,696,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in shares of Align Technology by 49.0% in the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after buying an additional 866,663 shares during the last quarter. Geode Capital Management LLC raised its position in Align Technology by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock worth $443,810,000 after acquiring an additional 21,605 shares during the period. FMR LLC boosted its stake in shares of Align Technology by 43.0% during the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after acquiring an additional 367,508 shares during the last quarter. Ninety One UK Ltd grew its position in shares of Align Technology by 3.7% during the 4th quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider’s stock valued at $254,508,000 after acquiring an additional 43,524 shares during the period. Finally, Meridiem Investment Management Ltd. increased its stake in shares of Align Technology by 63.7% in the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock worth $159,470,000 after purchasing an additional 297,472 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Down 1.3 %

Shares of Align Technology stock opened at $164.29 on Friday. Align Technology, Inc. has a twelve month low of $158.13 and a twelve month high of $331.64. The business has a 50-day moving average price of $195.03 and a 200-day moving average price of $215.07. The firm has a market cap of $12.09 billion, a price-to-earnings ratio of 29.29, a PEG ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. On average, equities analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ALGN shares. Jefferies Financial Group lowered their target price on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company started coverage on Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 price objective on the stock. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Morgan Stanley lowered their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, Piper Sandler reissued an “overweight” rating and issued a $235.00 price objective (down from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $262.64.

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.