Edmond DE Rothschild Holding S.A. Sells 29,738 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Edmond DE Rothschild Holding S.A. lessened its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 54.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,218 shares of the medical equipment provider’s stock after selling 29,738 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in Align Technology were worth $5,258,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank bought a new stake in Align Technology during the fourth quarter valued at about $190,792,000. Wellington Management Group LLP boosted its holdings in shares of Align Technology by 49.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after buying an additional 866,663 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of Align Technology in the 3rd quarter worth approximately $137,287,000. Point72 Asset Management L.P. raised its stake in shares of Align Technology by 96.3% during the 3rd quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock worth $171,493,000 after acquiring an additional 330,807 shares in the last quarter. Finally, Meridiem Investment Management Ltd. lifted its position in Align Technology by 63.7% during the fourth quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock valued at $159,470,000 after acquiring an additional 297,472 shares during the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ALGN shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Morgan Stanley reduced their target price on Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Piper Sandler reissued an “overweight” rating and issued a $235.00 price target (down previously from $270.00) on shares of Align Technology in a report on Tuesday, March 18th. Wells Fargo & Company began coverage on Align Technology in a research note on Friday, February 14th. They set an “overweight” rating and a $255.00 price target on the stock. Finally, Mizuho decreased their price objective on shares of Align Technology from $295.00 to $250.00 and set an “outperform” rating for the company in a research report on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $262.64.

Align Technology Price Performance

Shares of Align Technology stock opened at $158.86 on Tuesday. The stock has a market cap of $11.69 billion, a PE ratio of 28.32, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. The firm has a fifty day moving average price of $192.42 and a 200 day moving average price of $213.98. Align Technology, Inc. has a 1 year low of $153.77 and a 1 year high of $331.64.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates 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, equities analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

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.