Compagnie Lombard Odier SCmA Makes New $32,000 Investment in Align Technology, Inc. (NASDAQ:ALGN)

Compagnie Lombard Odier SCmA acquired a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 200 shares of the medical equipment provider’s stock, valued at approximately $32,000.

Several other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its holdings in Align Technology by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 1,790,014 shares of the medical equipment provider’s stock worth $372,299,000 after buying an additional 39,209 shares in the last quarter. Invesco Ltd. lifted its holdings in Align Technology by 17.1% during the 4th quarter. Invesco Ltd. now owns 1,082,162 shares of the medical equipment provider’s stock worth $225,642,000 after buying an additional 158,312 shares in the last quarter. Norges Bank acquired a new position in Align Technology during the 4th quarter worth $190,792,000. Meridiem Investment Management Ltd. lifted its holdings in Align Technology by 63.7% during the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock worth $159,470,000 after buying an additional 297,472 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Align Technology by 13.3% during the 4th quarter. Northern Trust Corp now owns 736,936 shares of the medical equipment provider’s stock worth $153,659,000 after buying an additional 86,493 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of Align Technology stock opened at $177.85 on Friday. Align Technology, Inc. has a 1 year low of $141.74 and a 1 year high of $270.28. The business has a 50-day moving average of $176.69 and a two-hundred day moving average of $193.16. The company has a market capitalization of $12.89 billion, a P/E ratio of 31.70, a price-to-earnings-growth ratio of 2.24 and a beta of 1.64.

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

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

Analyst Ratings Changes

ALGN has been the subject of several recent research reports. UBS Group dropped their target price on shares of Align Technology from $240.00 to $215.00 and set a “neutral” rating for the company in a research report on Thursday, April 24th. Hsbc Global Res cut shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 25th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research report on Thursday, May 1st. Wells Fargo & Company dropped their target price on shares of Align Technology from $255.00 to $246.00 and set an “overweight” rating for the company in a research report on Thursday, May 1st. Finally, Evercore ISI upped their target price on shares of Align Technology from $165.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $241.25.

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.