Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Has $52.50 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA decreased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 8.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 206,436 shares of the medical equipment provider’s stock after selling 18,192 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.27% of Align Technology worth $52,501,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Align Technology by 0.3% during the first quarter. Vanguard Group Inc. now owns 8,375,147 shares of the medical equipment provider’s stock worth $2,746,378,000 after buying an additional 25,362 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Align Technology by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 1,148,282 shares of the medical equipment provider’s stock valued at $277,230,000 after purchasing an additional 15,540 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of Align Technology by 1.0% in the second quarter. Ninety One UK Ltd now owns 1,147,124 shares of the medical equipment provider’s stock valued at $276,950,000 after purchasing an additional 10,919 shares in the last quarter. Bares Capital Management Inc. lifted its position in Align Technology by 44.4% in the first quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock worth $268,871,000 after purchasing an additional 252,220 shares during the period. Finally, Disciplined Growth Investors Inc. MN boosted its position in shares of Align Technology by 0.5% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 707,542 shares of the medical equipment provider’s stock valued at $170,822,000 after acquiring an additional 3,600 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Insider Activity at Align Technology

In other news, Director C Raymond Larkin, Jr. purchased 6,500 shares of Align Technology stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the transaction, the director now directly owns 28,247 shares in the company, valued at $6,647,366.51. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.62% of the stock is currently owned by corporate insiders.

Align Technology Stock Performance

ALGN traded up $1.97 during trading on Wednesday, reaching $214.75. 95,707 shares of the company’s stock were exchanged, compared to its average volume of 778,426. The company’s fifty day moving average price is $232.51 and its 200-day moving average price is $247.42. The firm has a market capitalization of $16.04 billion, a PE ratio of 36.31, a P/E/G ratio of 5.33 and a beta of 1.64. Align Technology, Inc. has a fifty-two week low of $178.52 and a fifty-two week high of $335.40.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The business had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. During the same quarter in the prior year, the company posted $1.62 earnings per share. The firm’s revenue was up 1.8% on a year-over-year basis. Research analysts forecast that Align Technology, Inc. will post 7.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALGN. Piper Sandler lowered their price objective on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research report on Thursday, October 24th. Stifel Nicolaus dropped their price objective on Align Technology from $285.00 to $275.00 and set a “buy” 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 note on Thursday, September 19th. Finally, Morgan Stanley dropped their target price on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Align Technology presently has a consensus rating of “Hold” and an average target price of $276.38.

About Align Technology

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.