Yarbrough Capital LLC Reduces Position in Align Technology, Inc. (NASDAQ:ALGN)

Yarbrough Capital LLC decreased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 24.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,722 shares of the medical equipment provider’s stock after selling 556 shares during the period. Yarbrough Capital LLC’s holdings in Align Technology were worth $359,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Beech Hill Advisors Inc. grew its position in shares of Align Technology by 0.6% in the fourth quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider’s stock valued at $2,425,000 after purchasing an additional 65 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Align Technology by 54.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 189,022 shares of the medical equipment provider’s stock worth $39,413,000 after purchasing an additional 66,756 shares during the period. Fulcrum Capital LLC grew its holdings in Align Technology by 5.6% during the 4th quarter. Fulcrum Capital LLC now owns 9,212 shares of the medical equipment provider’s stock valued at $1,921,000 after buying an additional 489 shares in the last quarter. Czech National Bank increased its position in shares of Align Technology by 6.4% during the fourth quarter. Czech National Bank now owns 15,216 shares of the medical equipment provider’s stock valued at $3,173,000 after buying an additional 913 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Align Technology by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider’s stock valued at $1,626,000 after buying an additional 91 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

ALGN has been the topic of several research analyst reports. Robert W. Baird decreased their price target on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. 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 report on Thursday, October 24th. Mizuho started coverage on shares of Align Technology in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective on the stock. Finally, Piper Sandler dropped their target price on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Align Technology currently has an average rating of “Moderate Buy” and a consensus target price of $268.20.

Align Technology Stock Up 1.5 %

Shares of ALGN opened at $218.91 on Friday. The stock has a market cap of $16.34 billion, a P/E ratio of 37.36, a P/E/G ratio of 4.64 and a beta of 1.67. The business’s 50 day moving average price is $222.10 and its 200-day moving average price is $228.44. Align Technology, Inc. has a 52 week low of $196.09 and a 52 week high of $335.40.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The business had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. During the same period in the previous year, the company posted $1.62 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities analysts anticipate that Align Technology, Inc. will post 7.44 EPS for the current year.

About Align Technology

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.