Swiss National Bank Buys 500 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Swiss National Bank boosted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 0.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,200 shares of the medical equipment provider’s stock after purchasing an additional 500 shares during the quarter. Swiss National Bank owned 0.28% of Align Technology worth $53,967,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Avantax Advisory Services Inc. acquired a new stake in Align Technology during the first quarter worth about $216,000. O Shaughnessy Asset Management LLC grew its holdings in shares of Align Technology by 116.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 5,402 shares of the medical equipment provider’s stock worth $1,772,000 after purchasing an additional 2,910 shares in the last quarter. UniSuper Management Pty Ltd increased its position in shares of Align Technology by 324.7% during the first quarter. UniSuper Management Pty Ltd now owns 3,822 shares of the medical equipment provider’s stock valued at $1,253,000 after purchasing an additional 2,922 shares during the period. Lake Street Advisors Group LLC raised its stake in shares of Align Technology by 28.3% in the 1st quarter. Lake Street Advisors Group LLC now owns 1,069 shares of the medical equipment provider’s stock valued at $350,000 after buying an additional 236 shares in the last quarter. Finally, Natixis lifted its holdings in shares of Align Technology by 5.2% during the 1st quarter. Natixis now owns 9,679 shares of the medical equipment provider’s stock worth $3,174,000 after acquiring an additional 475 shares during the period. 88.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Robert W. Baird lowered their price objective on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Evercore ISI decreased their price target on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Stifel Nicolaus cut their price target on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, Piper Sandler decreased their price objective on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Align Technology presently has a consensus rating of “Hold” and a consensus price target of $276.38.

Align Technology Trading Down 3.2 %

Align Technology stock opened at $222.58 on Wednesday. The company has a fifty day simple moving average of $228.93 and a 200 day simple moving average of $238.76. Align Technology, Inc. has a 1-year low of $196.09 and a 1-year high of $335.40. The company has a market cap of $16.62 billion, a P/E ratio of 37.98, a price-to-earnings-growth ratio of 5.79 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The company had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 EPS. On average, equities research analysts forecast that Align Technology, Inc. will post 7.45 EPS for the current year.

About Align Technology

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.