Swiss National Bank Cuts Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Swiss National Bank trimmed its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 200,500 shares of the medical equipment provider’s stock after selling 11,700 shares during the period. Swiss National Bank owned 0.27% of Align Technology worth $41,806,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ALGN. Wellington Management Group LLP grew its stake in shares of Align Technology by 49.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after buying an additional 866,663 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Align Technology by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock worth $443,810,000 after buying an additional 21,605 shares in the last quarter. FMR LLC grew its stake in shares of Align Technology by 43.0% in the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after buying an additional 367,508 shares in the last quarter. Ninety One UK Ltd grew its stake in shares of Align Technology by 3.7% in the 4th quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider’s stock worth $254,508,000 after buying an additional 43,524 shares in the last quarter. Finally, Meridiem Investment Management Ltd. grew its stake in shares of Align Technology by 63.7% in the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock worth $159,470,000 after buying an additional 297,472 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Morgan Stanley dropped their price objective on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Wells Fargo & Company started coverage on shares of Align Technology in a research note on Friday, February 14th. They set an “overweight” rating and a $255.00 price target for the company. Finally, Mizuho started coverage on shares of Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Align Technology has an average rating of “Moderate Buy” and an average price target of $269.91.

Align Technology Price Performance

Shares of ALGN opened at $166.20 on Monday. Align Technology, Inc. has a 1-year low of $158.13 and a 1-year high of $335.40. The company has a 50-day moving average of $203.61 and a 200 day moving average of $218.78. The firm has a market capitalization of $12.23 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. On average, equities analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

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.