Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by 2Xideas AG

2Xideas AG boosted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 3.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,689 shares of the medical equipment provider’s stock after buying an additional 1,279 shares during the period. Align Technology makes up approximately 1.5% of 2Xideas AG’s portfolio, making the stock its 23rd biggest position. 2Xideas AG’s holdings in Align Technology were worth $12,031,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Moody National Bank Trust Division boosted its position in shares of Align Technology by 1.8% during the first quarter. Moody National Bank Trust Division now owns 2,107 shares of the medical equipment provider’s stock worth $691,000 after buying an additional 38 shares during the period. EFG Asset Management Americas Corp. boosted its holdings in Align Technology by 3.6% during the 4th quarter. EFG Asset Management Americas Corp. now owns 1,167 shares of the medical equipment provider’s stock valued at $320,000 after acquiring an additional 41 shares during the period. Richard W. Paul & Associates LLC grew its position in Align Technology by 2.8% in the 4th quarter. Richard W. Paul & Associates LLC now owns 1,669 shares of the medical equipment provider’s stock valued at $457,000 after acquiring an additional 45 shares in the last quarter. Kornitzer Capital Management Inc. KS increased its stake in Align Technology by 6.2% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 855 shares of the medical equipment provider’s stock worth $234,000 after purchasing an additional 50 shares during the period. Finally, Linden Thomas Advisory Services LLC lifted its position in shares of Align Technology by 3.3% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 1,654 shares of the medical equipment provider’s stock worth $453,000 after purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ALGN shares. Stifel Nicolaus cut their target price on shares of Align Technology from $400.00 to $350.00 and set a “buy” rating on the stock in a research note on Thursday, July 25th. Evercore ISI cut their price objective on Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 10th. StockNews.com lowered Align Technology from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Morgan Stanley lowered their target price on Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Finally, Robert W. Baird reduced their price target on Align Technology from $370.00 to $325.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Align Technology currently has a consensus rating of “Hold” and an average price target of $322.78.

Align Technology Price Performance

Shares of ALGN traded up $7.20 during mid-day trading on Tuesday, reaching $231.16. The company’s stock had a trading volume of 1,253,119 shares, compared to its average volume of 783,815. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $384.90. The stock has a market cap of $17.40 billion, a PE ratio of 38.08, a price-to-earnings-growth ratio of 4.88 and a beta of 1.66. The company’s 50 day moving average is $247.50 and its 200 day moving average is $279.96.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.09. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The company had revenue of $1.03 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the company earned $1.73 earnings per share. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Align Technology, Inc. will post 7.84 EPS for the current fiscal year.

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.