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

2Xideas AG lowered its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 67.4% in the 4th quarter, Holdings Channel reports. 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 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of ALGN. Neo Ivy Capital Management bought a new stake in Align Technology in the 3rd quarter worth about $32,000. Picton Mahoney Asset Management grew 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 acquiring an additional 58 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Align Technology in the fourth quarter worth approximately $35,000. Private Trust Co. NA lifted its position in 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 purchasing an additional 93 shares during the period. Finally, Quarry LP lifted its position in Align Technology by 74.8% during the third quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 95 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

NASDAQ ALGN opened at $153.51 on Friday. The stock has a 50 day moving average price of $186.45 and a 200-day moving average price of $211.67. Align Technology, Inc. has a one year low of $143.00 and a one year high of $331.64. The company has a market capitalization 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.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data 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 net margin of 10.54% and a return on equity of 13.84%. As a group, equities analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ALGN shares. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Evercore ISI upped their price target on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Bank of America raised 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. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Jefferies Financial Group decreased their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. One equities 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $262.64.

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.