Beech Hill Advisors Inc. Sells 480 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Beech Hill Advisors Inc. trimmed its stake in Align Technology, Inc. (NASDAQ:ALGN) by 7.9% during the fourth quarter, Holdings Channel reports. The fund owned 5,600 shares of the medical equipment provider’s stock after selling 480 shares during the quarter. Beech Hill Advisors Inc.’s holdings in Align Technology were worth $1,534,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Rhenman & Partners Asset Management AB acquired a new stake in shares of Align Technology during the 3rd quarter worth approximately $305,000. Norges Bank acquired a new stake in shares of Align Technology during the 4th quarter worth approximately $150,692,000. Ameriprise Financial Inc. grew its holdings in shares of Align Technology by 348.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 756,393 shares of the medical equipment provider’s stock worth $230,938,000 after purchasing an additional 587,886 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Align Technology by 4.1% during the 2nd quarter. BlackRock Inc. now owns 5,593,074 shares of the medical equipment provider’s stock worth $1,977,935,000 after purchasing an additional 222,749 shares in the last quarter. Finally, Penn Capital Management Company LLC acquired a new stake in shares of Align Technology during the 1st quarter worth approximately $52,560,000. 87.07% of the stock is owned by institutional investors.

Align Technology Trading Up 0.6 %

Shares of ALGN traded up $1.79 during trading hours on Monday, hitting $316.14. 484,054 shares of the stock traded hands, compared to its average volume of 836,369. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20. The firm has a market capitalization of $23.74 billion, a PE ratio of 54.32, a price-to-earnings-growth ratio of 5.70 and a beta of 1.65. The business has a fifty day moving average of $291.40 and a 200-day moving average of $270.86.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.13. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. The business had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. As a group, equities research analysts expect that Align Technology, Inc. will post 7.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. Stifel Nicolaus boosted their price target on Align Technology from $340.00 to $350.00 and gave the company a “buy” rating in a research note on Friday. The Goldman Sachs Group boosted their price target on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research note on Friday, February 2nd. UBS Group boosted their price target on Align Technology from $200.00 to $260.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Finally, Piper Sandler 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $334.45.

Insider Buying and Selling at Align Technology

In other Align Technology news, Director Joseph Lacob sold 10,000 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total value of $3,130,100.00. Following the transaction, the director now owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now owns 709 shares of the company’s stock, valued at $203,802.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total value of $3,130,100.00. Following the sale, the director now directly owns 146,994 shares in the company, valued at approximately $46,010,591.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,524 shares of company stock valued at $8,403,924. 0.64% of the stock is currently owned by company insiders.

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.