Sigma Investment Counselors Inc. lowered its position in Align Technology, Inc. (NASDAQ:ALGN) by 3.6% during the first quarter, Holdings Channel reports. The fund owned 5,300 shares of the medical equipment provider’s stock after selling 200 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Align Technology were worth $1,507,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Courier Capital LLC lifted its stake in shares of Align Technology by 0.9% during the fourth quarter. Courier Capital LLC now owns 5,605 shares of the medical equipment provider’s stock worth $1,174,000 after purchasing an additional 50 shares in the last quarter. Captrust Financial Advisors lifted its stake in shares of Align Technology by 67.6% during the fourth quarter. Captrust Financial Advisors now owns 124 shares of the medical equipment provider’s stock worth $26,000 after purchasing an additional 50 shares in the last quarter. Gemmer Asset Management LLC lifted its stake in shares of Align Technology by 57.3% during the fourth quarter. Gemmer Asset Management LLC now owns 140 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 51 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Align Technology by 1.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 3,152 shares of the medical equipment provider’s stock worth $660,000 after purchasing an additional 55 shares in the last quarter. Finally, LS Investment Advisors LLC lifted its stake in shares of Align Technology by 2.1% during the first quarter. LS Investment Advisors LLC now owns 2,738 shares of the medical equipment provider’s stock worth $778,000 after purchasing an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 82.76% of the company’s stock.

Shares of NASDAQ ALGN opened at $317.98 on Monday. Align Technology, Inc. has a 1 year low of $177.93 and a 1 year high of $398.88. The stock has a market cap of $25.44 billion, a PE ratio of 64.63, a price-to-earnings-growth ratio of 2.85 and a beta of 2.13.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, April 24th. The medical equipment provider reported $0.89 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.06. Align Technology had a return on equity of 30.58% and a net margin of 18.10%. The business had revenue of $549.00 million for the quarter, compared to analyst estimates of $532.16 million. During the same period in the previous year, the company earned $1.17 earnings per share. The company’s revenue for the quarter was up 25.7% compared to the same quarter last year. As a group, research analysts predict that Align Technology, Inc. will post 5.24 EPS for the current year.

A number of brokerages have commented on ALGN. Credit Suisse Group boosted their price objective on Align Technology from $305.00 to $316.00 and gave the stock an “outperform” rating in a research note on Thursday. Piper Jaffray Companies boosted their price objective on Align Technology from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Thursday. Barclays boosted their price objective on Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday. BidaskClub upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Friday. Finally, UBS Group set a $325.00 price objective on Align Technology and gave the stock a “hold” rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Align Technology has a consensus rating of “Buy” and an average price target of $340.07.

In related news, Director Yuval Shaked sold 400 shares of the business’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $255.52, for a total value of $102,208.00. Following the completion of the sale, the director now directly owns 24 shares of the company’s stock, valued at $6,132.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph Lacob sold 20,000 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $258.31, for a total value of $5,166,200.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,650 shares of company stock valued at $5,586,633. 1.40% of the stock is owned by corporate insiders.

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Align Technology Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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