Banque Cantonale Vaudoise Raises Stake in Align Technology, Inc. (NASDAQ:ALGN)

Banque Cantonale Vaudoise boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 240.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,909 shares of the medical equipment provider's stock after purchasing an additional 4,878 shares during the period. Banque Cantonale Vaudoise's holdings in Align Technology were worth $1,757,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Achmea Investment Management B.V. boosted its stake in Align Technology by 3.4% in the second quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider's stock valued at $2,495,000 after buying an additional 339 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Align Technology by 122.9% in the 1st quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider's stock valued at $1,445,000 after purchasing an additional 2,430 shares in the last quarter. Swedbank AB grew its holdings in shares of Align Technology by 2.0% during the 2nd quarter. Swedbank AB now owns 299,115 shares of the medical equipment provider's stock valued at $72,215,000 after purchasing an additional 6,005 shares during the last quarter. Baker Avenue Asset Management LP acquired a new position in Align Technology during the 3rd quarter worth approximately $4,250,000. Finally, Cetera Investment Advisers increased its position in Align Technology by 914.2% during the 1st quarter. Cetera Investment Advisers now owns 12,627 shares of the medical equipment provider's stock worth $4,140,000 after purchasing an additional 11,382 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company's stock.

Align Technology Price Performance

ALGN opened at $223.87 on Thursday. The firm has a market capitalization of $16.71 billion, a PE ratio of 38.20, a P/E/G ratio of 5.79 and a beta of 1.65. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40. The company's 50-day moving average is $228.90 and its 200 day moving average is $238.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The business had revenue of $977.87 million for the quarter, compared to analysts' expectations of $990.05 million. During the same period in the previous year, the company earned $1.62 earnings per share. The firm's revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, analysts expect that Align Technology, Inc. will post 7.45 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have weighed in on ALGN. Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a research note on Monday, November 4th. Robert W. Baird dropped their price objective on shares of Align Technology from $325.00 to $276.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. StockNews.com raised shares of Align Technology from a "hold" rating to a "buy" rating in a report on Thursday, September 19th. Piper Sandler cut their price target on shares of Align Technology from $285.00 to $275.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Finally, Stifel Nicolaus decreased their price objective on Align Technology from $285.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, October 24th. One research 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. According to data from MarketBeat.com, the stock currently has a consensus 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.