Zurcher Kantonalbank Zurich Cantonalbank Lowers Position in Align Technology, Inc. (NASDAQ:ALGN)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 27,065 shares of the medical equipment provider’s stock after selling 499 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Align Technology were worth $6,883,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ALGN. Mather Group LLC. boosted its position in shares of Align Technology by 52.5% during the second quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 42 shares in the last quarter. Quarry LP grew its position in shares of Align Technology by 53.0% in the 2nd quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock worth $31,000 after buying an additional 44 shares during the period. Crewe Advisors LLC increased its stake in shares of Align Technology by 36.8% in the 2nd quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider’s stock worth $41,000 after acquiring an additional 46 shares in the last quarter. Empirical Finance LLC lifted its position in Align Technology by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock valued at $632,000 after acquiring an additional 50 shares during the period. Finally, Daiwa Securities Group Inc. boosted its stake in Align Technology by 0.6% during the second quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider’s stock worth $2,143,000 after acquiring an additional 54 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Trading Up 1.4 %

NASDAQ ALGN opened at $232.77 on Monday. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40. The stock has a market cap of $17.38 billion, a price-to-earnings ratio of 39.72, a PEG ratio of 6.03 and a beta of 1.65. The company’s 50 day moving average is $226.43 and its two-hundred day moving average is $236.00.

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 the consensus estimate of $2.31 by $0.04. The firm had revenue of $977.87 million for 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 revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm earned $1.62 EPS. Sell-side analysts forecast that Align Technology, Inc. will post 7.45 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ALGN shares. Stifel Nicolaus decreased their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Evercore ISI dropped their target price on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Morgan Stanley reduced their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Align Technology has an average rating of “Hold” and an average price target of $276.38.

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.