RDA Financial Network Sells 406 Shares of Align Technology, Inc. (NASDAQ:ALGN)

RDA Financial Network reduced its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 19.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,681 shares of the medical equipment provider’s stock after selling 406 shares during the period. RDA Financial Network’s holdings in Align Technology were worth $351,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of ALGN. Baker Avenue Asset Management LP bought a new stake in Align Technology during the third quarter worth $4,250,000. Swedbank AB boosted its holdings in Align Technology by 30.1% during the 3rd quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock worth $98,960,000 after acquiring an additional 90,000 shares during the last quarter. KBC Group NV grew its stake in shares of Align Technology by 11.8% in the 3rd quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock worth $13,595,000 after acquiring an additional 5,663 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Align Technology by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock valued at $56,870,000 after purchasing an additional 9,139 shares during the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Align Technology by 2.6% during the third quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock valued at $26,900,000 after purchasing an additional 2,717 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Stock Up 2.4 %

NASDAQ ALGN opened at $224.23 on Friday. The company has a market cap of $16.74 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 4.64 and a beta of 1.67. The firm’s 50-day simple moving average is $222.03 and its two-hundred day simple moving average is $228.37. Align Technology, Inc. has a 52 week low of $196.09 and a 52 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, topping the consensus estimate of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. During the same period last year, the firm earned $1.62 EPS. Align Technology’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities research analysts anticipate that Align Technology, Inc. will post 7.44 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ALGN shares. Evercore ISI reduced their price objective on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Morgan Stanley reduced their target price on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $268.20.

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.