2Xideas AG Reduces Holdings in Align Technology, Inc. (NASDAQ:ALGN)

2Xideas AG reduced its stake in Align Technology, Inc. (NASDAQ:ALGN) by 67.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,376 shares of the medical equipment provider’s stock after selling 21,407 shares during the period. 2Xideas AG’s holdings in Align Technology were worth $2,164,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management increased its stake in shares of Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 58 shares during the period. Neo Ivy Capital Management bought a new stake in Align Technology in the 3rd quarter worth $32,000. Aster Capital Management DIFC Ltd purchased a new position in shares of Align Technology in the fourth quarter valued at about $35,000. Private Trust Co. NA raised its stake in shares of Align Technology by 113.4% during the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 93 shares during the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Align Technology by 212.2% during the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after purchasing an additional 157 shares during the period. Institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ALGN shares. Jefferies Financial Group reduced their price target on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Evercore ISI upped their target price on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Bank of America upped their price objective on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Finally, Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $235.00 to $280.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $262.64.

Align Technology Stock Down 0.5 %

Shares of ALGN opened at $153.51 on Friday. The stock has a market cap of $11.24 billion, a P/E ratio of 27.36, a P/E/G ratio of 2.24 and a beta of 1.73. The business’s 50 day moving average price is $186.45 and its 200-day moving average price is $211.67. Align Technology, Inc. has a 52 week low of $143.00 and a 52 week high of $331.64.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. On average, equities analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current 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.