2Xideas AG Lowers Holdings in Align Technology, Inc. (NASDAQ:ALGN)

2Xideas AG lowered its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 67.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,376 shares of the medical equipment provider's stock after selling 21,407 shares during the period. 2Xideas AG's holdings in Align Technology were worth $2,164,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Picton Mahoney Asset Management increased its position in Align Technology by 69.9% during the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock valued at $30,000 after purchasing an additional 58 shares during the period. Neo Ivy Capital Management purchased a new position in Align Technology during the third quarter valued at approximately $32,000. Aster Capital Management DIFC Ltd purchased a new position in Align Technology during the fourth quarter valued at approximately $35,000. Private Trust Co. NA raised its stake in Align Technology by 113.4% in the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock worth $36,000 after buying an additional 93 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Align Technology by 212.2% during the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider's stock worth $48,000 after buying an additional 157 shares during the period. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Up 2.6 %

Shares of ALGN traded up $4.17 during trading hours on Friday, reaching $164.31. 524,069 shares of the company traded hands, compared to its average volume of 862,521. The stock has a market capitalization of $12.03 billion, a P/E ratio of 28.95, a P/E/G ratio of 2.24 and a beta of 1.73. The business has a fifty day moving average price of $178.28 and a 200-day moving average price of $207.89. Align Technology, Inc. has a 12-month low of $141.74 and a 12-month high of $331.64.

Align Technology (NASDAQ:ALGN - Get Free Report) 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%. As a group, research analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently commented on ALGN shares. Mizuho reduced their price target on Align Technology from $295.00 to $250.00 and set an "outperform" rating for the company in a research report on Tuesday, March 25th. Bank of America boosted their target price on shares of Align Technology from $200.00 to $206.00 and gave the stock an "underperform" rating in a report on Friday, December 13th. Leerink Partnrs upgraded shares of Align Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Wells Fargo & Company began coverage on shares of Align Technology in a research report on Friday, February 14th. They issued an "overweight" rating and a $255.00 price objective on the stock. Finally, Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Align Technology has a consensus rating of "Moderate Buy" and an average target price of $262.64.

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.