Equitable Trust Co. Has $311,000 Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Equitable Trust Co. reduced its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,490 shares of the medical equipment provider’s stock after selling 50 shares during the period. Equitable Trust Co.’s holdings in Align Technology were worth $311,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Empirical Finance LLC raised its holdings in Align Technology by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock worth $632,000 after buying an additional 50 shares during the period. Lake Street Advisors Group LLC raised its holdings in shares of Align Technology by 5.6% in the third quarter. Lake Street Advisors Group LLC now owns 1,042 shares of the medical equipment provider’s stock valued at $265,000 after purchasing an additional 55 shares during the last quarter. Crestwood Advisors Group LLC raised its holdings in shares of Align Technology by 6.6% in the third quarter. Crestwood Advisors Group LLC now owns 1,000 shares of the medical equipment provider’s stock valued at $254,000 after purchasing an additional 62 shares during the last quarter. Beech Hill Advisors Inc. raised its holdings in shares of Align Technology by 0.6% in the fourth quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider’s stock valued at $2,425,000 after purchasing an additional 65 shares during the last quarter. Finally, Greenleaf Trust raised its holdings in shares of Align Technology by 5.2% in the third quarter. Greenleaf Trust now owns 1,329 shares of the medical equipment provider’s stock valued at $338,000 after purchasing an additional 66 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Price Performance

ALGN stock opened at $210.52 on Wednesday. The company has a fifty day moving average price of $220.81 and a two-hundred day moving average price of $225.42. Align Technology, Inc. has a one year low of $196.09 and a one year high of $335.40. The stock has a market cap of $15.72 billion, a price-to-earnings ratio of 37.53, a price-to-earnings-growth ratio of 4.79 and a beta of 1.67.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALGN. Bank of America lifted their price objective on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Piper Sandler lowered their price objective on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Stifel Nicolaus lowered their price objective on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, Evercore ISI lifted their price objective on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Align Technology presently has an average rating of “Moderate Buy” and an average target price of $271.40.

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.