Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 99.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,045 shares of the medical equipment provider’s stock after selling 137,784 shares during the quarter. Bessemer Group Inc.’s holdings in Align Technology were worth $219,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Picton Mahoney Asset Management boosted its holdings in shares of Align Technology by 69.9% during the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 58 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Align Technology during the fourth quarter worth $35,000. Private Trust Co. NA grew its holdings in Align Technology by 113.4% in the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 93 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Align Technology by 212.2% in the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 157 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Align Technology during the 4th quarter worth $52,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

ALGN has been the subject of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Jefferies Financial Group cut their price target on shares of 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 started coverage on shares of Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 price target on the stock. Morgan Stanley lowered their price objective on Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $235.00 to $280.00 in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $256.90.

Align Technology Price Performance

Shares of Align Technology stock opened at $167.18 on Thursday. The stock has a market capitalization of $12.24 billion, a price-to-earnings ratio of 29.80, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73. The business has a 50-day moving average of $174.30 and a 200 day moving average of $205.86. Align Technology, Inc. has a 12 month low of $141.74 and a 12 month high of $327.49.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. Equities research analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Align Technology 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.