Vontobel Holding Ltd. lowered its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN – Get Rating) by 46.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,606 shares of the medical equipment provider’s stock after selling 31,406 shares during the period. Vontobel Holding Ltd.’s holdings in Align Technology were worth $12,232,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. General Partner Inc. bought a new stake in shares of Align Technology in the 4th quarter worth $29,000. Legato Capital Management LLC bought a new stake in shares of Align Technology in the 4th quarter worth $974,000. Veriti Management LLC raised its stake in shares of Align Technology by 5.3% in the 4th quarter. Veriti Management LLC now owns 1,601 shares of the medical equipment provider’s stock worth $338,000 after buying an additional 80 shares in the last quarter. Barclays PLC raised its stake in shares of Align Technology by 29.8% in the 4th quarter. Barclays PLC now owns 150,625 shares of the medical equipment provider’s stock worth $31,769,000 after buying an additional 34,546 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Align Technology by 12.1% in the 3rd quarter. Vanguard Group Inc. now owns 8,213,345 shares of the medical equipment provider’s stock worth $1,701,067,000 after acquiring an additional 889,705 shares during the last quarter. Institutional investors own 86.62% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the company. Bank of America lifted their target price on Align Technology from $190.00 to $225.00 in a report on Thursday, April 27th. StockNews.com assumed coverage on Align Technology in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Piper Sandler lifted their target price on Align Technology from $360.00 to $370.00 in a report on Thursday, April 27th. Morgan Stanley lifted their target price on Align Technology from $314.00 to $383.00 and gave the stock an “overweight” rating in a report on Wednesday, April 19th. Finally, OTR Global downgraded Align Technology to a “positive” rating in a report on Friday, June 16th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $347.78.
Align Technology Price Performance
Align Technology (NASDAQ:ALGN – Get Rating) last issued its earnings results on Wednesday, April 26th. The medical equipment provider reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.02). Align Technology had a net margin of 8.51% and a return on equity of 11.18%. The firm had revenue of $943.15 million during the quarter, compared to analysts’ expectations of $908.29 million. On average, equities analysts anticipate that Align Technology, Inc. will post 6.8 EPS for the current year.
Insider Buying and Selling at Align Technology
In other news, Director Kevin J. Dallas bought 7,000 shares of the stock in a transaction on Tuesday, May 30th. The shares were purchased at an average price of $285.26 per share, for a total transaction of $1,996,820.00. Following the completion of the purchase, the director now directly owns 12,246 shares of the company’s stock, valued at approximately $3,493,293.96. The purchase was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.72% of the company’s stock.
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, China, and internationally. It operates in two segments, Clear Aligner; and Imaging Systems and CAD/CAM Services (Systems and Services).
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