Generali Asset Management SPA SGR Takes Position in Align Technology, Inc. (NASDAQ:ALGN)

Generali Asset Management SPA SGR acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,059 shares of the medical equipment provider's stock, valued at approximately $638,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALGN. True Wealth Design LLC lifted its stake in Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider's stock worth $27,000 after purchasing an additional 107 shares during the last quarter. Picton Mahoney Asset Management raised its holdings in shares of Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock worth $30,000 after buying an additional 58 shares during the period. Neo Ivy Capital Management bought a new stake in shares of Align Technology during the 3rd quarter worth approximately $32,000. Private Trust Co. NA grew its position in Align Technology by 113.4% in the 4th 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 during the last quarter. Finally, Versant Capital Management Inc increased its stake in Align Technology by 212.2% in the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider's stock worth $48,000 after purchasing an additional 157 shares during the period. Hedge funds and other institutional investors own 88.43% of the company's stock.

Align Technology Price Performance

Align Technology stock traded down $0.37 during midday trading on Tuesday, reaching $170.00. The company's stock had a trading volume of 570,589 shares, compared to its average volume of 803,447. The stock has a market capitalization of $12.51 billion, a P/E ratio of 30.30, a PEG ratio of 2.24 and a beta of 1.69. The stock's 50-day simple moving average is $197.91 and its 200-day simple moving average is $216.13. Align Technology, Inc. has a 52-week low of $158.13 and a 52-week high of $331.64.

Remove Ads

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on ALGN. Wells Fargo & Company initiated coverage on shares of Align Technology in a report on Friday, February 14th. They issued an "overweight" rating and a $255.00 price target on the stock. Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a research note on Thursday, February 6th. Mizuho dropped their price objective on Align Technology from $295.00 to $250.00 and set an "outperform" rating on the stock in a research note on Tuesday. Bank of America upped their target price on Align Technology from $200.00 to $206.00 and gave the stock an "underperform" rating in a report on Friday, December 13th. Finally, Evercore ISI raised their price target on Align Technology from $240.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Align Technology has an average rating of "Moderate Buy" and an average target price of $262.64.

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.