Czech National Bank Grows Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Posted by Defense World Staff on Jun 29th, 2023

Czech National Bank grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 0.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 8,558 shares of the medical equipment provider’s stock after purchasing an additional 55 shares during the period. Czech National Bank’s holdings in Align Technology were worth $2,860,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Align Technology by 12.1% during the third quarter. Vanguard Group Inc. now owns 8,213,345 shares of the medical equipment provider’s stock valued at $1,701,067,000 after acquiring an additional 889,705 shares in the last quarter. Sands Capital Management LLC increased its position in shares of Align Technology by 14.9% during the fourth quarter. Sands Capital Management LLC now owns 2,660,870 shares of the medical equipment provider’s stock valued at $561,177,000 after acquiring an additional 345,647 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Align Technology by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,549,279 shares of the medical equipment provider’s stock valued at $326,167,000 after acquiring an additional 37,047 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Align Technology by 22.9% during the fourth quarter. Brown Advisory Inc. now owns 1,145,543 shares of the medical equipment provider’s stock valued at $241,595,000 after acquiring an additional 213,782 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Align Technology by 14.0% during the fourth quarter. Morgan Stanley now owns 1,064,281 shares of the medical equipment provider’s stock valued at $224,457,000 after acquiring an additional 131,006 shares in the last quarter. 86.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Morgan Stanley raised their price target on shares of Align Technology from $314.00 to $383.00 and gave the company an “overweight” rating in a research report on Wednesday, April 19th. Piper Sandler lifted their target price on shares of Align Technology from $360.00 to $370.00 in a research report on Thursday, April 27th. OTR Global downgraded shares of Align Technology to a “positive” rating in a research report on Friday, June 16th. VNET Group reaffirmed a “maintains” rating on shares of Align Technology in a research report on Thursday, April 27th. Finally, CICC Research started coverage on shares of Align Technology in a research report on Thursday, March 23rd. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Align Technology has an average rating of “Moderate Buy” and an average price target of $347.78.

Insider Activity at Align Technology

In other news, Director Kevin J. Dallas bought 7,000 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average price of $285.26 per share, for a total transaction of $1,996,820.00. Following the purchase, the director now owns 12,246 shares in the company, valued at $3,493,293.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.72% of the stock is owned by corporate insiders.

Align Technology Stock Performance

ALGN opened at $345.07 on Thursday. Align Technology, Inc. has a fifty-two week low of $172.05 and a fifty-two week high of $368.87. The firm’s fifty day moving average is $312.62 and its 200 day moving average is $294.26. The stock has a market cap of $26.40 billion, a price-to-earnings ratio of 85.20, a price-to-earnings-growth ratio of 2.83 and a beta of 1.58.

Align Technology (NASDAQ:ALGN – Free Report) last released its earnings results on Wednesday, April 26th. The medical equipment provider reported $1.33 earnings per share 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 for the quarter, compared to analysts’ expectations of $908.29 million. On average, equities research analysts predict that Align Technology, Inc. will post 6.8 earnings per share for the current year.

Align Technology Profile

(Free Report)

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).