Robeco Institutional Asset Management B.V. Reduces Position in Align Technology, Inc. (NASDAQ:ALGN)

Robeco Institutional Asset Management B.V. lessened its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 61.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,553 shares of the medical equipment provider's stock after selling 43,200 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Align Technology were worth $6,753,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Norden Group LLC grew its stake in Align Technology by 86.9% during the 1st quarter. Norden Group LLC now owns 1,822 shares of the medical equipment provider's stock worth $597,000 after buying an additional 847 shares during the last quarter. Private Advisor Group LLC raised its stake in shares of Align Technology by 81.4% in the 1st quarter. Private Advisor Group LLC now owns 2,262 shares of the medical equipment provider's stock worth $742,000 after buying an additional 1,015 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in Align Technology by 175.6% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 962 shares of the medical equipment provider's stock worth $315,000 after acquiring an additional 613 shares in the last quarter. Empirical Finance LLC increased its holdings in shares of Align Technology by 3.5% in the first quarter. Empirical Finance LLC now owns 2,599 shares of the medical equipment provider's stock valued at $852,000 after buying an additional 87 shares in the last quarter. Finally, Sciencast Management LP purchased a new position in shares of Align Technology in the first quarter worth approximately $307,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Stock Down 0.4 %

Shares of NASDAQ ALGN traded down $0.80 during midday trading on Friday, hitting $221.38. 553,445 shares of the company's stock were exchanged, compared to its average volume of 784,540. Align Technology, Inc. has a 12 month low of $186.01 and a 12 month high of $335.40. The company's 50 day moving average price is $230.02 and its 200 day moving average price is $244.03. The firm has a market capitalization of $16.54 billion, a PE ratio of 37.91, a price-to-earnings-growth ratio of 4.98 and a beta of 1.65.

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Stifel Nicolaus reduced their price objective on Align Technology from $285.00 to $275.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a research note on Monday. Robert W. Baird dropped their price target on shares of Align Technology from $325.00 to $276.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Piper Sandler lowered their target price on Align Technology from $285.00 to $275.00 and set an "overweight" rating on the stock in a research note on Thursday, October 24th. Finally, StockNews.com raised Align Technology from a "hold" rating to a "buy" rating in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $276.38.

Insiders Place Their Bets

In other news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the acquisition, the director now owns 28,247 shares in the company, valued at $6,647,366.51. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.62% of the company's stock.

About Align Technology

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.