Riverbridge Partners LLC Sells 25,320 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Riverbridge Partners LLC decreased its position in Align Technology, Inc. (NASDAQ:ALGN) by 9.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 236,287 shares of the medical equipment provider’s stock after selling 25,320 shares during the quarter. Riverbridge Partners LLC owned approximately 0.32% of Align Technology worth $49,268,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Align Technology by 49.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after buying an additional 866,663 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Align Technology by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock worth $443,810,000 after purchasing an additional 21,605 shares during the period. FMR LLC boosted its holdings in shares of Align Technology by 43.0% in the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after buying an additional 367,508 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its position in Align Technology by 6.4% during the third quarter. Disciplined Growth Investors Inc. MN now owns 753,026 shares of the medical equipment provider’s stock valued at $191,510,000 after buying an additional 45,484 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in Align Technology by 96.3% during the third quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock worth $171,493,000 after buying an additional 330,807 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $235.00 to $280.00 in a research note on Monday, January 6th. Bank of America increased their price objective on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Evercore ISI lowered their target price on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley cut their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $268.20.

Align Technology Price Performance

NASDAQ ALGN opened at $232.14 on Thursday. The company’s 50 day simple moving average is $222.61 and its two-hundred day simple moving average is $227.87. The stock has a market capitalization of $17.33 billion, a PE ratio of 39.61, a P/E/G ratio of 4.91 and a beta of 1.67. Align Technology, Inc. has a 1 year low of $196.09 and a 1 year high of $335.40.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.04. The company 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 firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $1.62 earnings per share. On average, research analysts anticipate that Align Technology, Inc. will post 7.48 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.