Pictet Asset Management Holding SA Grows Stake in Align Technology, Inc. (NASDAQ:ALGN)

Pictet Asset Management Holding SA raised its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 24.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,084 shares of the medical equipment provider's stock after acquiring an additional 9,487 shares during the period. Pictet Asset Management Holding SA owned approximately 0.07% of Align Technology worth $10,235,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management boosted its position in shares of Align Technology by 69.9% in the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock worth $30,000 after purchasing an additional 58 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Align Technology during the third quarter worth about $32,000. Private Trust Co. NA increased its holdings in shares of 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 acquiring an additional 93 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Align Technology by 212.2% in the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider's stock valued at $48,000 after purchasing an additional 157 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Align Technology in the 4th quarter worth approximately $52,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Bank of America upped their price target on shares of Align Technology from $200.00 to $206.00 and gave the company an "underperform" rating in a research note on Friday, December 13th. Leerink Partnrs upgraded Align Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Morgan Stanley lowered their price target on Align Technology from $280.00 to $272.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Evercore ISI increased their price objective on Align Technology from $240.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $262.64.

Align Technology Trading Down 0.1 %

Shares of Align Technology stock traded down $0.16 during trading hours on Monday, reaching $153.35. The stock had a trading volume of 2,101,421 shares, compared to its average volume of 849,451. The stock's 50 day moving average is $184.92 and its 200 day moving average is $210.65. Align Technology, Inc. has a twelve month low of $143.00 and a twelve month high of $331.64. The firm has a market capitalization of $11.23 billion, a PE ratio of 27.34, a PEG ratio of 2.24 and a beta of 1.73.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings results 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 return on equity of 13.84% and a net margin of 10.54%. As a group, sell-side analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current 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.