Keybank National Association OH Lowers Stock Holdings in Align Technology, Inc. $ALGN

Keybank National Association OH lowered its position in Align Technology, Inc. (NASDAQ:ALGN) by 12.2% during the 3rd quarter, Holdings Channel reports. The firm owned 280,872 shares of the medical equipment provider’s stock after selling 39,165 shares during the quarter. Keybank National Association OH’s holdings in Align Technology were worth $35,171,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Rothschild Investment LLC lifted its position in shares of Align Technology by 140.3% in the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 87 shares during the period. True Wealth Design LLC lifted its position in shares of Align Technology by 7,650.0% during the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 153 shares during the last quarter. Cromwell Holdings LLC raised its stake in shares of Align Technology by 2,900.0% during the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider’s stock worth $34,000 after acquiring an additional 174 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of Align Technology during the 2nd quarter worth approximately $36,000. Finally, MUFG Securities EMEA plc purchased a new stake in Align Technology during the second quarter valued at approximately $38,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Trading Down 0.7%

NASDAQ ALGN opened at $163.03 on Friday. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 1.84 and a beta of 1.83. The stock has a 50-day moving average of $161.01 and a 200 day moving average of $149.23. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $232.20.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.23. The firm had revenue of $995.69 million for the quarter, compared to analysts’ expectations of $980.75 million. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.35 EPS. Equities analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ALGN shares. Barclays began coverage on Align Technology in a research report on Monday, December 8th. They set an “equal weight” rating and a $170.00 price target on the stock. Mizuho upped their target price on Align Technology from $170.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. UBS Group lowered their price target on Align Technology from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Thursday, October 16th. Morgan Stanley boosted their price target on Align Technology from $142.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Finally, Weiss Ratings upgraded shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 16th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $176.82.

Align Technology Company Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.