Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 7.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,981 shares of the medical equipment provider's stock after acquiring an additional 1,916 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Align Technology were worth $6,043,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. American Assets Inc. acquired a new position in Align Technology during the 4th quarter valued at about $417,000. AlphaQuest LLC grew its stake in shares of Align Technology by 49.3% during the fourth quarter. AlphaQuest LLC now owns 2,038 shares of the medical equipment provider's stock worth $425,000 after acquiring an additional 673 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI increased its holdings in shares of Align Technology by 2.8% during the fourth quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 40,379 shares of the medical equipment provider's stock valued at $8,419,000 after acquiring an additional 1,114 shares in the last quarter. Amundi raised its position in shares of Align Technology by 77.6% in the 4th quarter. Amundi now owns 360,813 shares of the medical equipment provider's stock valued at $77,708,000 after purchasing an additional 157,654 shares during the last quarter. Finally, E Fund Management Co. Ltd. boosted its stake in Align Technology by 79.3% in the 4th quarter. E Fund Management Co. Ltd. now owns 1,533 shares of the medical equipment provider's stock worth $320,000 after purchasing an additional 678 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company's stock.

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Align Technology Trading Down 3.0 %

Align Technology stock traded down $5.06 during mid-day trading on Tuesday, hitting $164.53. The company had a trading volume of 1,255,747 shares, compared to its average volume of 789,445. The company has a market capitalization of $12.11 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 2.24 and a beta of 1.69. The company's fifty day moving average is $202.63 and its 200-day moving average is $218.32. Align Technology, Inc. has a 12-month low of $158.13 and a 12-month high of $335.40.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. As a group, sell-side analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ALGN shares. Jefferies Financial Group cut their price target on shares of Align Technology from $285.00 to $260.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. Leerink Partnrs upgraded Align Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Morgan Stanley lowered their price target on Align Technology from $280.00 to $272.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Piper Sandler reissued an "overweight" rating and issued a $235.00 price objective (down from $270.00) on shares of Align Technology in a report on Tuesday. Finally, Wells Fargo & Company assumed coverage on Align Technology in a report on Friday, February 14th. They set an "overweight" rating and a $255.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Align Technology currently has a consensus rating of "Moderate Buy" and an average target price of $266.73.

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.