Voya Investment Management LLC Sells 4,520 Shares of Align Technology, Inc. $ALGN

Voya Investment Management LLC reduced its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 23.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 14,425 shares of the medical equipment provider’s stock after selling 4,520 shares during the quarter. Voya Investment Management LLC’s holdings in Align Technology were worth $1,806,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ALGN. Federated Hermes Inc. increased its position in shares of Align Technology by 31.0% in the second quarter. Federated Hermes Inc. now owns 926,733 shares of the medical equipment provider’s stock valued at $175,458,000 after acquiring an additional 219,219 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in Align Technology by 0.9% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 844,987 shares of the medical equipment provider’s stock valued at $159,981,000 after purchasing an additional 7,754 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Align Technology by 32.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 832,313 shares of the medical equipment provider’s stock valued at $132,221,000 after purchasing an additional 202,616 shares during the last quarter. Norges Bank purchased a new stake in Align Technology in the 2nd quarter worth approximately $155,297,000. Finally, Navera Investment Management Ltd. grew its position in shares of Align Technology by 3.0% in the 2nd quarter. Navera Investment Management Ltd. now owns 787,559 shares of the medical equipment provider’s stock worth $149,126,000 after buying an additional 23,080 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $158.37 on Monday. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $237.23. The stock has a market cap of $11.36 billion, a P/E ratio of 30.69, a price-to-earnings-growth ratio of 1.93 and a beta of 1.86. The firm has a 50-day moving average of $146.25 and a 200 day moving average of $153.15.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.23. Align Technology had a return on equity of 13.96% and a net margin of 9.50%.The company had revenue of $995.69 million during the quarter, compared to analyst estimates of $980.75 million. During the same quarter last year, the company earned $2.35 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Research analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, October 30th. Wells Fargo & Company dropped their target price on shares of Align Technology from $199.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Morgan Stanley lifted their target price on shares of Align Technology from $142.00 to $154.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Evercore ISI decreased their price target on shares of Align Technology from $220.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, November 25th. Finally, Jefferies Financial Group lifted their price objective on Align Technology from $140.00 to $155.00 in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $172.18.

About Align Technology

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.