Bank Pictet & Cie Europe AG Has $214,000 Position in Align Technology, Inc. (NASDAQ:ALGN)

Bank Pictet & Cie Europe AG reduced its stake in Align Technology, Inc. (NASDAQ:ALGN) by 11.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,024 shares of the medical equipment provider’s stock after selling 135 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Align Technology were worth $214,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP bought a new position in Align Technology in the 3rd quarter worth approximately $4,250,000. Swedbank AB increased its position in Align Technology by 30.1% in the 3rd quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock worth $98,960,000 after buying an additional 90,000 shares during the period. KBC Group NV increased its position in Align Technology by 11.8% in the 3rd quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock worth $13,595,000 after buying an additional 5,663 shares during the period. Nordea Investment Management AB increased its position in Align Technology by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock worth $56,870,000 after buying an additional 9,139 shares during the period. Finally, Fisher Asset Management LLC increased its position in Align Technology by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock worth $26,900,000 after buying an additional 2,717 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Price Performance

Shares of NASDAQ:ALGN opened at $206.77 on Friday. The business’s fifty day moving average price is $218.77 and its two-hundred day moving average price is $224.95. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40. The stock has a market capitalization of $15.44 billion, a price-to-earnings ratio of 36.86, a price-to-earnings-growth ratio of 4.79 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. Research analysts expect that Align Technology, Inc. will post 8.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on ALGN shares. Robert W. Baird dropped their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Piper Sandler lowered their price objective on Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group lowered their price objective on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Mizuho began coverage on Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective on the stock. Finally, Wells Fargo & Company began coverage on Align Technology in a research report on Friday. They set an “overweight” rating and a $255.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $269.91.

Align Technology Company 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.