UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 9,641 Shares of Align Technology, Inc. (NASDAQ:ALGN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 1.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 564,664 shares of the medical equipment provider's stock after selling 9,641 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.76% of Align Technology worth $143,605,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mather Group LLC. lifted its position in shares of Align Technology by 52.5% during the 2nd quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider's stock worth $29,000 after purchasing an additional 42 shares during the last quarter. Quarry LP raised its holdings in shares of Align Technology by 53.0% during the second quarter. Quarry LP now owns 127 shares of the medical equipment provider's stock worth $31,000 after acquiring an additional 44 shares during the period. Crewe Advisors LLC boosted its position in Align Technology by 36.8% during the 2nd quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider's stock worth $41,000 after acquiring an additional 46 shares during the last quarter. Empirical Finance LLC raised its stake in shares of Align Technology by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider's stock worth $632,000 after purchasing an additional 50 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in shares of Align Technology by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider's stock worth $2,143,000 after buying an additional 54 shares during the last quarter. Institutional investors own 88.43% of the company's stock.

Align Technology Trading Up 0.6 %

ALGN traded up $1.37 during midday trading on Monday, reaching $234.14. The company's stock had a trading volume of 778,490 shares, compared to its average volume of 786,175. The company has a fifty day simple moving average of $226.43 and a 200 day simple moving average of $236.00. The stock has a market cap of $17.48 billion, a P/E ratio of 39.96, a PEG ratio of 6.03 and a beta of 1.65. Align Technology, Inc. has a twelve month low of $196.09 and a twelve month high of $335.40.

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 for the quarter, beating the consensus estimate of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The firm had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. During the same quarter in the prior year, the firm posted $1.62 earnings per share. The company's quarterly revenue was up 1.8% on a year-over-year basis. Sell-side analysts expect that Align Technology, Inc. will post 7.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ALGN shares. Morgan Stanley reduced their price target on Align Technology from $310.00 to $280.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a report on Monday, November 4th. Piper Sandler dropped their price objective on Align Technology from $285.00 to $275.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. StockNews.com raised Align Technology from a "hold" rating to a "buy" rating in a research report on Thursday, September 19th. Finally, Stifel Nicolaus cut their price target on Align Technology from $285.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $276.38.

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.