UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in Align Technology, Inc. $ALGN

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 42.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 360,198 shares of the medical equipment provider’s stock after selling 265,628 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Align Technology were worth $60,751,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Sunbelt Securities Inc. grew its holdings in shares of Align Technology by 222.4% in the 4th quarter. Sunbelt Securities Inc. now owns 158 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 109 shares during the period. Blue Trust Inc. boosted its position in Align Technology by 77.5% during the first quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 69 shares in the last quarter. Tobam acquired a new stake in Align Technology in the fourth quarter valued at $30,000. Hollencrest Capital Management purchased a new position in shares of Align Technology in the first quarter valued at $34,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in shares of Align Technology by 1,773.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 281 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 266 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings cut shares of Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, August 3rd. Zacks Research downgraded shares of Align Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 16th. BMO Capital Markets started coverage on shares of Align Technology in a research note on Wednesday, July 8th. They set an “outperform” rating and a $209.00 price objective for the company. Finally, Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $206.36.

Align Technology Trading Up 2.7%

NASDAQ:ALGN opened at $159.15 on Thursday. The firm has a market cap of $11.40 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.65 and a beta of 1.65. The company’s 50-day moving average is $172.23 and its two-hundred day moving average is $174.30. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $200.43.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.02. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.49 earnings per share. On average, equities research analysts forecast that Align Technology, Inc. will post 9.38 earnings per share for the current fiscal year.

Align Technology Company Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.