MONECO Advisors LLC Sells 199 Shares of Align Technology, Inc. (NASDAQ:ALGN)

MONECO Advisors LLC cut its position in Align Technology, Inc. (NASDAQ:ALGN) by 15.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,117 shares of the medical equipment provider’s stock after selling 199 shares during the quarter. MONECO Advisors LLC’s holdings in Align Technology were worth $233,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ALGN. Baker Avenue Asset Management LP bought a new position in shares of Align Technology during the third quarter worth about $4,250,000. Swedbank AB raised its position in shares of Align Technology by 30.1% during the third quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock worth $98,960,000 after acquiring an additional 90,000 shares during the last quarter. KBC Group NV raised its position in shares of Align Technology by 11.8% during the third quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock worth $13,595,000 after acquiring an additional 5,663 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Align Technology by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock worth $56,870,000 after acquiring an additional 9,139 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Align Technology by 119.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider’s stock worth $35,368,000 after acquiring an additional 92,407 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Morgan Stanley lowered their price objective on Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Leerink Partnrs raised Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Mizuho began coverage on Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 target price for the company. Jefferies Financial Group decreased their target price on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $269.91.

Align Technology Stock Performance

Shares of Align Technology stock opened at $186.62 on Wednesday. Align Technology, Inc. has a 52 week low of $183.26 and a 52 week high of $335.40. The stock has a 50 day moving average price of $213.42 and a two-hundred day moving average price of $224.07. The stock has a market capitalization of $13.93 billion, a PE ratio of 33.27, a price-to-earnings-growth ratio of 2.24 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last announced 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 net margin of 10.54% and a return on equity of 13.84%. Research analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

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.