BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 2,718 Shares of Align Technology, Inc. (NASDAQ:ALGN)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its stake in Align Technology, Inc. (NASDAQ:ALGN) by 9.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,857 shares of the medical equipment provider’s stock after selling 2,718 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Align Technology were worth $6,576,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp raised its position in shares of Align Technology by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 1,148,282 shares of the medical equipment provider’s stock worth $277,230,000 after buying an additional 15,540 shares in the last quarter. Ninety One UK Ltd increased its stake in Align Technology by 1.0% in the 2nd quarter. Ninety One UK Ltd now owns 1,147,124 shares of the medical equipment provider’s stock worth $276,950,000 after acquiring an additional 10,919 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in shares of Align Technology by 0.5% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 707,542 shares of the medical equipment provider’s stock valued at $170,822,000 after acquiring an additional 3,600 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Align Technology by 4,391.3% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 488,251 shares of the medical equipment provider’s stock valued at $117,879,000 after acquiring an additional 477,380 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Align Technology by 10.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 437,219 shares of the medical equipment provider’s stock worth $143,373,000 after purchasing an additional 43,144 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ALGN shares. Robert W. Baird dropped their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Piper Sandler reduced their target price on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley dropped their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $276.38.

Align Technology Price Performance

Shares of Align Technology stock opened at $225.89 on Monday. Align Technology, Inc. has a one year low of $196.09 and a one year high of $335.40. The business’s 50 day simple moving average is $228.54 and its two-hundred day simple moving average is $237.57. The stock has a market capitalization of $16.86 billion, a P/E ratio of 38.55, a price-to-earnings-growth ratio of 5.91 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.04. The company had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The firm’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.62 EPS. Sell-side analysts expect that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal year.

About Align Technology

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.