Polen Capital Management LLC Reduces Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Polen Capital Management LLC reduced its position in Align Technology, Inc. (NASDAQ:ALGN) by 55.9% in the 4th quarter, Holdings Channel reports. The firm owned 4,504 shares of the medical equipment provider’s stock after selling 5,711 shares during the period. Polen Capital Management LLC’s holdings in Align Technology were worth $939,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. True Wealth Design LLC grew 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 worth $27,000 after purchasing an additional 107 shares during the last quarter. Picton Mahoney Asset Management grew its holdings in shares of Align Technology by 69.9% during the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 58 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Align Technology in the 3rd quarter valued at about $32,000. Private Trust Co. NA lifted its position in Align Technology by 113.4% during the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 93 shares during the period. Finally, Versant Capital Management Inc grew 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 valued at $48,000 after purchasing an additional 157 shares during the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Stock Up 2.0 %

Align Technology stock opened at $169.59 on Tuesday. The firm has a market capitalization of $12.48 billion, a PE ratio of 30.23, a P/E/G ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 52 week low of $158.13 and a 52 week high of $335.40. The firm’s 50-day simple moving average is $202.63 and its 200 day simple moving average is $218.32.

Align Technology (NASDAQ:ALGN) last announced its quarterly 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 net margin of 10.54% and a return on equity of 13.84%. On average, research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on ALGN. Evercore ISI upped their price target on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Morgan Stanley lowered their target price on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Mizuho initiated coverage on Align Technology in a report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective on the stock. Finally, Piper Sandler cut their target price on Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a research note on Thursday, February 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 company. According to data from MarketBeat.com, Align Technology presently has an average rating of “Moderate Buy” and a consensus target price of $269.91.

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.