Exome Asset Management LLC Buys Shares of 18,700 Align Technology, Inc. (NASDAQ:ALGN)

Exome Asset Management LLC acquired a new position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,700 shares of the medical equipment provider's stock, valued at approximately $4,756,000. Align Technology comprises approximately 3.2% of Exome Asset Management LLC's portfolio, making the stock its 6th largest holding.

Other large investors have also recently bought and sold shares of the company. Achmea Investment Management B.V. increased its stake in shares of 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 during the period. Baker Avenue Asset Management LP bought a new stake in Align Technology in the third quarter valued at approximately $4,250,000. Swedbank AB increased its position in Align Technology by 30.1% during the 3rd quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider's stock valued at $98,960,000 after purchasing an additional 90,000 shares during the period. KBC Group NV increased its position in Align Technology by 11.8% during the 3rd quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider's stock valued at $13,595,000 after purchasing an additional 5,663 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in Align Technology by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider's stock worth $26,900,000 after purchasing an additional 2,717 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on ALGN shares. Morgan Stanley dropped their target price on shares of Align Technology from $310.00 to $280.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Stifel Nicolaus dropped their price objective on Align Technology from $285.00 to $275.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Bank of America raised their target price on Align Technology from $200.00 to $206.00 and gave the stock an "underperform" rating in a research note on Friday. StockNews.com raised shares of Align Technology from a "hold" rating to a "buy" rating in a research note on Thursday, September 19th. Finally, Robert W. Baird reduced their price objective on Align Technology from $325.00 to $276.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $271.20.

Align Technology Stock Performance

ALGN traded down $0.33 during mid-day trading on Friday, reaching $235.39. 519,180 shares of the stock were exchanged, compared to its average volume of 776,645. Align Technology, Inc. has a 1 year low of $196.09 and a 1 year high of $335.40. The stock has a market capitalization of $17.57 billion, a PE ratio of 40.17, a price-to-earnings-growth ratio of 6.20 and a beta of 1.66. The company has a 50 day moving average price of $224.11 and a two-hundred day moving average price of $234.30.

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. The business had revenue of $977.87 million for the quarter, compared to analysts' expectations of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The firm's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.62 earnings per share. Sell-side analysts expect that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.

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.