Align Technology, Inc. (NASDAQ:ALGN) Position Trimmed by Acropolis Investment Management LLC

Acropolis Investment Management LLC decreased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 17.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 413 shares of the medical equipment provider’s stock after selling 85 shares during the period. Acropolis Investment Management LLC’s holdings in Align Technology were worth $105,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. grew its position in shares of Align Technology by 52.5% during the second quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 42 shares during the last quarter. Quarry LP lifted its holdings in Align Technology by 53.0% in the second quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 44 shares during the period. Crewe Advisors LLC lifted its holdings in Align Technology by 36.8% in the second quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider’s stock worth $41,000 after purchasing an additional 46 shares during the period. Empirical Finance LLC lifted its holdings in Align Technology by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock valued at $632,000 after acquiring an additional 50 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its holdings in Align Technology by 0.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider’s stock valued at $2,143,000 after acquiring an additional 54 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus cut their price target on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Robert W. Baird reduced their price objective on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Morgan Stanley reduced their price objective on shares of 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, Evercore ISI reduced their price objective on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $276.38.

Align Technology Price Performance

Shares of ALGN opened at $232.77 on Friday. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 39.72, a P/E/G ratio of 5.95 and a beta of 1.65. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40. The business’s 50-day moving average is $226.43 and its 200-day moving average is $236.31.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The company had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. During the same quarter in the prior year, the company earned $1.62 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. Equities research analysts expect that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal 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.