Achmea Investment Management B.V. Cuts Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Achmea Investment Management B.V. cut its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 20.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,355 shares of the medical equipment provider's stock after selling 2,128 shares during the quarter. Achmea Investment Management B.V.'s holdings in Align Technology were worth $1,742,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC boosted its stake in Align Technology by 10,700.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider's stock valued at $27,000 after buying an additional 107 shares during the period. Neo Ivy Capital Management bought a new stake in Align Technology during the third quarter valued at $32,000. Private Trust Co. NA boosted its stake in Align Technology by 113.4% during the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock valued at $36,000 after buying an additional 93 shares during the period. Versant Capital Management Inc boosted its stake 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 valued at $48,000 after buying an additional 157 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in Align Technology during the fourth quarter valued at $52,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Stock Up 1.0 %

Shares of NASDAQ:ALGN traded up $1.61 during trading on Wednesday, hitting $166.14. The stock had a trading volume of 1,367,388 shares, compared to its average volume of 793,004. Align Technology, Inc. has a 12 month low of $158.13 and a 12 month high of $335.40. The company has a market capitalization of $12.23 billion, a PE ratio of 29.61, a PEG ratio of 2.24 and a beta of 1.69. The firm's fifty day moving average is $201.57 and its 200 day moving average is $217.81.

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Align Technology (NASDAQ:ALGN - Get Free Report) last posted 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%. Equities research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ALGN. Leerink Partnrs raised Align Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Piper Sandler reaffirmed an "overweight" rating and set a $235.00 price target (down previously from $270.00) on shares of Align Technology in a research note on Tuesday. Wells Fargo & Company began coverage on Align Technology in a research note on Friday, February 14th. They set an "overweight" rating and a $255.00 price target for the company. Morgan Stanley dropped their price target on Align Technology from $280.00 to $272.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $266.73.

Align Technology 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.