Cerity Partners LLC Lowers Position in Align Technology, Inc. (NASDAQ:ALGN)

Cerity Partners LLC cut its stake in 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 fund owned 158,399 shares of the medical equipment provider’s stock after selling 8,989 shares during the quarter. Cerity Partners LLC owned 0.21% of Align Technology worth $40,284,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Align Technology by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 448,028 shares of the medical equipment provider’s stock worth $113,942,000 after purchasing an additional 10,887 shares during the last quarter. Landscape Capital Management L.L.C. raised its stake in shares of Align Technology by 11.8% in the third quarter. Landscape Capital Management L.L.C. now owns 8,338 shares of the medical equipment provider’s stock worth $2,121,000 after purchasing an additional 878 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Align Technology by 16.2% in the third quarter. First Horizon Advisors Inc. now owns 990 shares of the medical equipment provider’s stock worth $252,000 after purchasing an additional 138 shares during the last quarter. Commerce Bank raised its stake in shares of Align Technology by 47.0% in the third quarter. Commerce Bank now owns 3,381 shares of the medical equipment provider’s stock worth $860,000 after purchasing an additional 1,081 shares during the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Align Technology during the third quarter valued at approximately $114,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ALGN shares. Piper Sandler decreased their price target on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Stifel Nicolaus decreased their price target on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Robert W. Baird decreased their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Evercore ISI decreased their price target on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $276.38.

Align Technology Trading Down 1.0 %

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

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The firm had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the company earned $1.62 earnings per share. Analysts forecast that Align Technology, Inc. will post 7.45 EPS 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.