Sterling Investment Advisors Ltd. Sells 100 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Sterling Investment Advisors Ltd. trimmed its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,160 shares of the medical equipment provider’s stock after selling 100 shares during the period. Sterling Investment Advisors Ltd.’s holdings in Align Technology were worth $804,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. increased its position in shares of Align Technology by 854.5% during the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 94 shares during the period. Innealta Capital LLC acquired a new stake in shares of Align Technology during the 2nd quarter valued at about $26,000. Rothschild Investment LLC bought a new stake in Align Technology in the second quarter valued at about $26,000. Versant Capital Management Inc lifted its stake in Align Technology by 547.1% during the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 93 shares during the period. Finally, LRI Investments LLC acquired a new stake in Align Technology during the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Price Performance

NASDAQ ALGN traded up $2.88 during trading on Friday, reaching $219.30. 1,145,141 shares of the company’s stock were exchanged, compared to its average volume of 780,594. The business has a 50 day moving average price of $233.41 and a 200-day moving average price of $249.46. The stock has a market capitalization of $16.51 billion, a P/E ratio of 36.13, a PEG ratio of 5.33 and a beta of 1.64. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $335.40.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results 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 business had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 EPS. On average, analysts forecast that Align Technology, Inc. will post 7.61 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the purchase, the director now directly owns 28,247 shares in the company, valued at $6,647,366.51. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.62% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALGN. Morgan Stanley cut their price target on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday. Robert W. Baird decreased their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a report on Thursday. Evercore ISI cut their price target on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Thursday. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday. Finally, StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $276.38.

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.