Groupama Asset Managment Sells 680 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Groupama Asset Managment reduced its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 13.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,538 shares of the medical equipment provider’s stock after selling 680 shares during the quarter. Groupama Asset Managment’s holdings in Align Technology were worth $937,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Picton Mahoney Asset Management raised its stake in Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 58 shares in the last quarter. Neo Ivy Capital Management bought a new position in shares of Align Technology in the 3rd quarter worth $32,000. Private Trust Co. NA lifted its stake in shares of Align Technology by 113.4% during the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 93 shares during the last quarter. Versant Capital Management Inc boosted its position in Align Technology by 212.2% during the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after purchasing an additional 157 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in Align Technology in the fourth quarter valued at about $52,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of Align Technology stock opened at $163.98 on Thursday. The stock has a market cap of $12.07 billion, a PE ratio of 29.23, 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 $189.66 and a 200 day moving average price of $213.03. Align Technology, Inc. has a 1 year low of $153.77 and a 1 year high of $331.64.

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

Analyst Ratings Changes

ALGN has been the topic of a number of recent analyst reports. Mizuho lowered their price target on shares of Align Technology from $295.00 to $250.00 and set an “outperform” rating on the stock in a report on Tuesday, March 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $235.00 price target (down from $270.00) on shares of Align Technology in a report on Tuesday, March 18th. Wells Fargo & Company assumed coverage on Align Technology in a report on Friday, February 14th. They set an “overweight” rating and a $255.00 price objective for the company. Bank of America boosted their target price on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $262.64.

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.