Hartford Investment Management Co. Sells 84 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Hartford Investment Management Co. decreased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,352 shares of the medical equipment provider’s stock after selling 84 shares during the period. Hartford Investment Management Co.’s holdings in Align Technology were worth $907,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. True Wealth Design LLC increased its position in Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 107 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Align Technology in the 3rd quarter worth about $32,000. Quarry LP boosted its stake in Align Technology by 74.8% in the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock worth $56,000 after purchasing an additional 95 shares in the last quarter. Versant Capital Management Inc grew its position in Align Technology by 212.2% during the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after purchasing an additional 157 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Align Technology during the 4th quarter valued at about $52,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Stock Performance

NASDAQ:ALGN opened at $206.77 on Friday. The stock has a 50-day simple moving average of $219.29 and a two-hundred day simple moving average of $225.07. Align Technology, Inc. has a 52-week low of $196.09 and a 52-week high of $335.40. The firm has a market capitalization of $15.44 billion, a PE ratio of 36.86, a P/E/G ratio of 4.79 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. Equities analysts forecast that Align Technology, Inc. will post 8.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ALGN shares. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Jefferies Financial Group reduced their target price on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company assumed coverage on Align Technology in a report on Friday. They set an “overweight” rating and a $255.00 price target on the stock. Evercore ISI lifted their price objective on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and upped their target price for the company from $235.00 to $280.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $269.91.

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.