Knuff & Co LLC Cuts Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Knuff & Co LLC trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 53.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,521 shares of the medical equipment provider’s stock after selling 2,947 shares during the quarter. Knuff & Co LLC’s holdings in Align Technology were worth $526,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ALGN. Empirical Finance LLC lifted its stake in shares of Align Technology by 2.1% during the third quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock worth $632,000 after buying an additional 50 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Align Technology by 9.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 766 shares of the medical equipment provider’s stock worth $158,000 after purchasing an additional 64 shares in the last quarter. Beech Hill Advisors Inc. grew its stake in Align Technology by 0.6% during the 4th quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider’s stock valued at $2,425,000 after acquiring an additional 65 shares in the last quarter. New York Life Investment Management LLC boosted its holdings in Align Technology by 0.7% in the 4th quarter. New York Life Investment Management LLC now owns 9,406 shares of the medical equipment provider’s stock valued at $1,961,000 after purchasing an additional 68 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in Align Technology by 26.6% in the 3rd quarter. Covestor Ltd now owns 362 shares of the medical equipment provider’s stock valued at $92,000 after purchasing an additional 76 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Evercore ISI increased their price objective on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Mizuho assumed coverage on shares of Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 target price on the stock. Wells Fargo & Company began coverage on shares of Align Technology in a report on Friday, February 14th. They issued an “overweight” rating and a $255.00 target price on the stock. Morgan Stanley dropped their target price on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and increased their target price for the company from $235.00 to $280.00 in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and an average price target of $269.91.

Align Technology Price Performance

NASDAQ ALGN opened at $165.14 on Wednesday. The firm has a market cap of $12.15 billion, a P/E ratio of 29.44, a P/E/G ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a one year low of $159.56 and a one year high of $335.40. The stock’s 50-day moving average is $206.29 and its 200-day moving average is $220.25.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share 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%. Equities analysts anticipate that Align Technology, Inc. will post 7.98 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.