Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Edmond DE Rothschild Holding S.A.

Edmond DE Rothschild Holding S.A. lessened its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 54.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,218 shares of the medical equipment provider's stock after selling 29,738 shares during the period. Edmond DE Rothschild Holding S.A.'s holdings in Align Technology were worth $5,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Align Technology during the 4th quarter worth $190,792,000. Wellington Management Group LLP grew its stake in shares of Align Technology by 49.0% during the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider's stock worth $670,031,000 after acquiring an additional 866,663 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of Align Technology during the third quarter valued at about $137,287,000. Point72 Asset Management L.P. raised its position in shares of Align Technology by 96.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider's stock valued at $171,493,000 after purchasing an additional 330,807 shares during the last quarter. Finally, Meridiem Investment Management Ltd. boosted its stake in Align Technology by 63.7% in the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider's stock worth $159,470,000 after purchasing an additional 297,472 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

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Align Technology Stock Performance

NASDAQ ALGN traded down $0.73 during mid-day trading on Friday, reaching $153.51. 2,165,233 shares of the stock were exchanged, compared to its average volume of 844,444. The company has a market capitalization of $11.24 billion, a P/E ratio of 27.36, a P/E/G ratio of 2.24 and a beta of 1.73. The business's 50 day moving average is $186.45 and its 200-day moving average is $211.67. Align Technology, Inc. has a 1 year low of $143.00 and a 1 year high of $331.64.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS 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 analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ALGN shares. Leerink Partnrs upgraded shares of Align Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Evercore ISI upped their target price on Align Technology from $240.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Jefferies Financial Group dropped their price target on Align Technology from $285.00 to $260.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a report on Thursday, February 6th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $235.00 target price (down previously from $270.00) on shares of Align Technology in a report on Tuesday, March 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Align Technology has an average rating of "Moderate Buy" and an average price target 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.