Sentry Investment Management LLC Sells 254 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Sentry Investment Management LLC reduced its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 14.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,562 shares of the medical equipment provider’s stock after selling 254 shares during the period. Sentry Investment Management LLC’s holdings in Align Technology were worth $326,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Baker Avenue Asset Management LP bought a new stake in shares of Align Technology during the third quarter worth $4,250,000. Swedbank AB lifted its holdings in Align Technology by 30.1% during the 3rd quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock valued at $98,960,000 after buying an additional 90,000 shares in the last quarter. KBC Group NV lifted its holdings in Align Technology by 11.8% during the 3rd quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock valued at $13,595,000 after buying an additional 5,663 shares in the last quarter. Nordea Investment Management AB boosted its position in Align Technology by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock valued at $56,870,000 after buying an additional 9,139 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in Align Technology by 119.6% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company assumed coverage on Align Technology in a report on Friday, February 14th. They issued an “overweight” rating and a $255.00 price target for the company. Piper Sandler lowered their target price on Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Finally, Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. One research 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $269.91.

Align Technology Stock Down 2.1 %

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 firm’s 50 day moving average price is $213.42 and its 200-day moving average price is $224.07. The company has a market cap of $13.93 billion, a P/E ratio of 33.27, a PEG ratio of 2.24 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last released 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 return on equity of 13.84% and a net margin of 10.54%. As a group, equities research analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal 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.