Oddo BHF Asset Management Sas Invests $747,000 in Align Technology, Inc. (NASDAQ:ALGN)

Oddo BHF Asset Management Sas purchased a new position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 2,937 shares of the medical equipment provider's stock, valued at approximately $747,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Achmea Investment Management B.V. boosted its holdings in Align Technology by 3.4% during the second quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider's stock worth $2,495,000 after buying an additional 339 shares in the last quarter. Baker Avenue Asset Management LP acquired a new stake in shares of Align Technology during the 3rd quarter valued at approximately $4,250,000. Swedbank AB lifted its position in shares of 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 acquiring an additional 90,000 shares during the period. KBC Group NV boosted its stake in shares of Align Technology by 11.8% during the 3rd quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider's stock worth $13,595,000 after acquiring an additional 5,663 shares in the last quarter. Finally, Fisher Asset Management LLC grew its holdings in shares of Align Technology by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider's stock worth $26,900,000 after acquiring an additional 2,717 shares during the period. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Stock Performance

Shares of NASDAQ:ALGN traded down $0.33 during trading hours on Friday, hitting $235.39. 519,180 shares of the company's stock traded hands, compared to its average volume of 776,645. The company's fifty day simple moving average is $224.11 and its two-hundred day simple moving average is $234.30. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 40.17, a price-to-earnings-growth ratio of 6.20 and a beta of 1.66. Align Technology, Inc. has a 52 week low of $196.09 and a 52 week high of $335.40.

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, beating analysts' consensus estimates of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The business had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. During the same quarter last year, the company posted $1.62 EPS. Align Technology's revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts anticipate that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Morgan Stanley dropped their price target on Align Technology from $310.00 to $280.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Robert W. Baird dropped their target price 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. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research report on Monday, November 4th. StockNews.com upgraded shares of Align Technology from a "hold" rating to a "buy" rating in a research report on Thursday, September 19th. Finally, Stifel Nicolaus cut their price objective on Align Technology from $285.00 to $275.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Align Technology currently has an average rating of "Hold" and a consensus price target of $271.20.

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.