Everence Capital Management Inc. Sells 221 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Posted by Defense World Staff on Apr 16th, 2023

Everence Capital Management Inc. trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN – Get Rating) by 12.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,490 shares of the medical equipment provider’s stock after selling 221 shares during the period. Everence Capital Management Inc.’s holdings in Align Technology were worth $314,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ALGN. Raymond James Trust N.A. raised its stake in shares of Align Technology by 39.4% during the 1st quarter. Raymond James Trust N.A. now owns 934 shares of the medical equipment provider’s stock worth $407,000 after purchasing an additional 264 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Align Technology by 11.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 180,978 shares of the medical equipment provider’s stock worth $78,911,000 after purchasing an additional 18,153 shares during the period. Prudential PLC bought a new stake in shares of Align Technology during the 1st quarter worth $955,000. Cetera Investment Advisers raised its stake in shares of Align Technology by 4.9% during the 1st quarter. Cetera Investment Advisers now owns 1,713 shares of the medical equipment provider’s stock worth $747,000 after purchasing an additional 80 shares during the period. Finally, Sequoia Financial Advisors LLC raised its stake in shares of Align Technology by 17.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 526 shares of the medical equipment provider’s stock worth $229,000 after purchasing an additional 77 shares during the period. 84.90% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ALGN. Stifel Nicolaus lifted their target price on Align Technology from $265.00 to $375.00 and gave the stock a “buy” rating in a research note on Thursday, February 2nd. StockNews.com initiated coverage on Align Technology in a report on Thursday, March 16th. They issued a “hold” rating for the company. CICC Research initiated coverage on Align Technology in a report on Thursday, March 23rd. They issued a “market perform” rating for the company. Evercore ISI lifted their price objective on Align Technology from $230.00 to $375.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. Finally, OTR Global raised Align Technology from a “mixed” rating to a “positive” rating in a report on Friday, March 31st. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Align Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $358.78.

Insider Activity

In other Align Technology news, CFO John Morici purchased 587 shares of the company’s stock in a transaction dated Wednesday, February 8th. The stock was purchased at an average price of $341.84 per share, for a total transaction of $200,660.08. Following the transaction, the chief financial officer now owns 8,204 shares in the company, valued at approximately $2,804,455.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO John Morici bought 587 shares of the company’s stock in a transaction that occurred on Wednesday, February 8th. The stock was bought at an average price of $341.84 per share, for a total transaction of $200,660.08. Following the transaction, the chief financial officer now directly owns 8,204 shares of the company’s stock, valued at approximately $2,804,455.36. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph M. Hogan bought 2,928 shares of the company’s stock in a transaction that occurred on Wednesday, February 8th. The stock was purchased at an average price of $341.50 per share, with a total value of $999,912.00. Following the transaction, the chief executive officer now directly owns 188,417 shares in the company, valued at $64,344,405.50. The disclosure for this purchase can be found here. Corporate insiders own 0.64% of the company’s stock.

Align Technology Trading Up 0.3 %

Shares of ALGN opened at $342.27 on Friday. The company has a market cap of $26.27 billion, a PE ratio of 74.25, a price-to-earnings-growth ratio of 3.24 and a beta of 1.60. The stock has a 50-day moving average price of $321.66 and a 200-day moving average price of $251.77. Align Technology, Inc. has a 12-month low of $172.05 and a 12-month high of $431.27.

Align Technology (NASDAQ:ALGN – Get Rating) last issued its quarterly earnings results on Wednesday, February 1st. The medical equipment provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.05. The firm had revenue of $901.52 million during the quarter, compared to the consensus estimate of $889.27 million. Align Technology had a return on equity of 11.90% and a net margin of 9.68%. As a group, analysts predict that Align Technology, Inc. will post 6.43 earnings per share for the current year.

Align Technology Profile

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Align Technology, Inc engages in the design, manufacture, and market of orthodontics, restorative, and aesthetic dentistry products. It operates through the Clear Aligner, and Scanner and Services segments. The Clear Aligner segment consists of Invisalign full, teen, and assist products, and Vivera retainers for treating malocclusion.