2,919 Shares in Align Technology, Inc. (NASDAQ:ALGN) Acquired by B. Metzler seel. Sohn & Co. Holding AG

B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,919 shares of the medical equipment provider’s stock, valued at approximately $742,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ALGN. Canada Pension Plan Investment Board lifted its holdings in shares of Align Technology by 67.7% during the first quarter. Canada Pension Plan Investment Board now owns 101,229 shares of the medical equipment provider’s stock valued at $33,195,000 after purchasing an additional 40,852 shares during the last quarter. LRI Investments LLC purchased a new stake in Align Technology during the first quarter valued at about $29,000. Lazard Asset Management LLC boosted its holdings in shares of Align Technology by 190.7% in the first quarter. Lazard Asset Management LLC now owns 54,126 shares of the medical equipment provider’s stock worth $17,748,000 after buying an additional 35,507 shares during the period. BOKF NA increased its position in shares of Align Technology by 18.8% in the first quarter. BOKF NA now owns 13,437 shares of the medical equipment provider’s stock worth $4,295,000 after acquiring an additional 2,131 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised 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 valued at $143,373,000 after acquiring an additional 43,144 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Down 1.0 %

ALGN stock opened at $225.89 on Friday. The company has a market capitalization of $16.86 billion, a price-to-earnings ratio of 38.55, a P/E/G ratio of 5.91 and a beta of 1.65. The firm has a 50 day moving average of $228.54 and a two-hundred day moving average of $237.82. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ALGN shares. Robert W. Baird decreased their price objective on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Evercore ISI lowered their price target on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Morgan Stanley dropped their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Piper Sandler decreased their price objective on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Stifel Nicolaus dropped their target price on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. One 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. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $276.38.

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.