B. Metzler seel. Sohn & Co. Holding AG Takes $742,000 Position in Align Technology, Inc. (NASDAQ:ALGN)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 2,919 shares of the medical equipment provider’s stock, valued at approximately $742,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALGN. Cullen Frost Bankers Inc. boosted its position in shares of Align Technology by 854.5% in the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 94 shares during the period. Innealta Capital LLC bought a new stake in Align Technology in the 2nd quarter valued at $26,000. Rothschild Investment LLC acquired a new stake in Align Technology in the 2nd quarter worth $26,000. Versant Capital Management Inc grew its position in Align Technology by 547.1% in the 2nd quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 93 shares during the last quarter. Finally, LRI Investments LLC bought a new position in shares of Align Technology during the 1st quarter worth about $29,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Performance

ALGN opened at $225.89 on Friday. The firm has a market cap of $16.86 billion, a price-to-earnings ratio of 38.55, a PEG ratio of 5.91 and a beta of 1.65. The firm’s 50-day simple moving average is $228.54 and its 200-day simple moving average is $237.82. Align Technology, Inc. has a twelve month low of $196.09 and a twelve month high of $335.40.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The firm had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. During the same period in the prior year, the firm earned $1.62 earnings per share. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on ALGN. Stifel Nicolaus decreased their target price on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Piper Sandler reduced their target price on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Morgan Stanley decreased their price target on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Robert W. Baird reduced their price objective on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Align Technology presently has a consensus rating of “Hold” and an average price target of $276.38.

About Align Technology

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.