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

Beech Hill Advisors Inc. lessened its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 7.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,600 shares of the medical equipment provider’s stock after selling 480 shares during the period. Beech Hill Advisors Inc.’s holdings in Align Technology were worth $1,534,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Morgan Stanley lifted its position in shares of Align Technology by 9.8% in the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock worth $310,866,000 after purchasing an additional 90,581 shares during the period. Country Trust Bank boosted its holdings in shares of Align Technology by 27.7% in the fourth quarter. Country Trust Bank now owns 80,830 shares of the medical equipment provider’s stock worth $22,147,000 after buying an additional 17,515 shares during the last quarter. Acropolis Investment Management LLC purchased a new position in Align Technology during the third quarter valued at approximately $191,000. Empirical Finance LLC lifted its holdings in Align Technology by 10.1% during the third quarter. Empirical Finance LLC now owns 2,495 shares of the medical equipment provider’s stock valued at $762,000 after purchasing an additional 229 shares in the last quarter. Finally, PAX Financial Group LLC lifted its holdings in shares of Align Technology by 45.9% in the third quarter. PAX Financial Group LLC now owns 5,870 shares of the medical equipment provider’s stock worth $1,792,000 after buying an additional 1,848 shares in the last quarter. Institutional investors own 87.07% of the company’s stock.

Align Technology Stock Performance

NASDAQ:ALGN traded up $1.79 during trading hours on Monday, hitting $316.14. 484,054 shares of the company’s stock traded hands, compared to its average volume of 836,369. The firm has a market cap of $23.74 billion, a P/E ratio of 54.32, a P/E/G ratio of 5.70 and a beta of 1.65. Align Technology, Inc. has a twelve month low of $176.34 and a twelve month high of $413.20. The stock’s fifty day moving average price is $291.40 and its two-hundred day moving average price is $270.86.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $928.57 million. On average, equities research analysts predict that Align Technology, Inc. will post 7.65 earnings per share for the current year.

Insider Activity

In other news, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the sale, the director now directly owns 131,994 shares in the company, valued at $40,023,220.68. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the sale, the director now directly owns 131,994 shares in the company, valued at $40,023,220.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 27,524 shares of company stock valued at $8,403,924. Company insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

ALGN has been the topic of a number of analyst reports. Stifel Nicolaus boosted their price objective on shares of Align Technology from $340.00 to $350.00 and gave the company a “buy” rating in a research report on Friday. Piper Sandler lifted their target price on shares of Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday. The Goldman Sachs Group raised their price target on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. SVB Leerink began coverage on shares of Align Technology in a research note on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target on the stock. Finally, Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. 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, Align Technology has a consensus rating of “Hold” and a consensus price target of $334.45.

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.