Deutsche Bank AG Has $77.07 Million Position in Align Technology, Inc. (NASDAQ:ALGN)

Deutsche Bank AG raised its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 14.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 369,625 shares of the medical equipment provider’s stock after acquiring an additional 46,531 shares during the quarter. Deutsche Bank AG owned about 0.50% of Align Technology worth $77,071,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Principal Financial Group Inc. increased its holdings in shares of Align Technology by 2.7% in the third quarter. Principal Financial Group Inc. now owns 82,020 shares of the medical equipment provider’s stock worth $20,859,000 after acquiring an additional 2,168 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Align Technology by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider’s stock valued at $1,626,000 after purchasing an additional 91 shares in the last quarter. Czech National Bank grew its position in shares of Align Technology by 6.4% in the 4th quarter. Czech National Bank now owns 15,216 shares of the medical equipment provider’s stock valued at $3,173,000 after purchasing an additional 913 shares during the period. Fulcrum Capital LLC increased its stake in Align Technology by 5.6% during the 4th quarter. Fulcrum Capital LLC now owns 9,212 shares of the medical equipment provider’s stock worth $1,921,000 after purchasing an additional 489 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Align Technology by 54.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 189,022 shares of the medical equipment provider’s stock worth $39,413,000 after buying an additional 66,756 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALGN. Jefferies Financial Group reduced their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Evercore ISI upped their target price on shares of Align Technology from $165.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Hsbc Global Res downgraded Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 25th. Mizuho cut their price target on Align Technology from $250.00 to $245.00 and set an “outperform” rating on the stock in a report on Tuesday, April 29th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $241.25.

Align Technology Trading Up 0.5%

Shares of ALGN opened at $181.81 on Monday. The company has a market capitalization of $13.31 billion, a PE ratio of 32.41, a PEG ratio of 2.24 and a beta of 1.68. Align Technology, Inc. has a 12 month low of $141.74 and a 12 month high of $283.00. The stock’s 50-day moving average price is $167.96 and its two-hundred day moving average price is $199.61.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, April 30th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.13. The company had revenue of $979.26 million during the quarter, compared to the consensus estimate of $977.90 million. Align Technology had a return on equity of 13.84% and a net margin of 10.54%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company earned $2.14 earnings per share. Equities research analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Align Technology declared that its Board of Directors has initiated a share buyback program on Tuesday, May 6th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the medical equipment provider to reacquire up to 7.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.