Cerity Partners LLC Trims Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Cerity Partners LLC trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 158,399 shares of the medical equipment provider’s stock after selling 8,989 shares during the quarter. Cerity Partners LLC’s holdings in Align Technology were worth $40,284,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALGN. Kayne Anderson Rudnick Investment Management LLC grew its position in Align Technology by 4,391.3% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 488,251 shares of the medical equipment provider’s stock worth $117,879,000 after buying an additional 477,380 shares in the last quarter. Swedbank AB purchased a new position in Align Technology during the first quarter worth about $96,117,000. Bares Capital Management Inc. grew its position in Align Technology by 44.4% during the first quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock worth $268,871,000 after buying an additional 252,220 shares in the last quarter. Point72 Asset Management L.P. grew its position in Align Technology by 127.4% during the second quarter. Point72 Asset Management L.P. now owns 343,512 shares of the medical equipment provider’s stock worth $82,934,000 after buying an additional 192,474 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its position in Align Technology by 371.0% during the first quarter. Jacobs Levy Equity Management Inc. now owns 218,779 shares of the medical equipment provider’s stock worth $71,742,000 after buying an additional 172,330 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ALGN. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Robert W. Baird dropped their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus dropped their price target on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Finally, Evercore ISI dropped their price target on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $276.38.

Align Technology Trading Down 1.0 %

NASDAQ ALGN opened at $225.89 on Friday. Align Technology, Inc. has a 1-year low of $196.09 and a 1-year high of $335.40. The stock has a 50-day moving average of $228.54 and a 200-day moving average of $237.82. The firm has a market cap of $16.86 billion, a PE ratio of 38.55, a price-to-earnings-growth ratio of 5.91 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The company had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. During the same quarter in the previous year, the company posted $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 forecast that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal 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.