OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 3,705 Shares of Align Technology, Inc. $ALGN

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Align Technology, Inc. (NASDAQ:ALGN) by 40.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,755 shares of the medical equipment provider’s stock after acquiring an additional 3,705 shares during the quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Align Technology were worth $2,415,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Rothschild Investment LLC grew its position in shares of Align Technology by 140.3% in the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 87 shares during the last quarter. True Wealth Design LLC boosted its stake in Align Technology by 7,650.0% during the 2nd quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 153 shares during the period. Cromwell Holdings LLC grew its holdings in Align Technology by 2,900.0% in the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 174 shares during the last quarter. SVB Wealth LLC bought a new position in Align Technology in the 1st quarter worth approximately $36,000. Finally, MAI Capital Management lifted its holdings in shares of Align Technology by 84.8% during the second quarter. MAI Capital Management now owns 255 shares of the medical equipment provider’s stock worth $48,000 after buying an additional 117 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Performance

NASDAQ:ALGN opened at $164.58 on Thursday. The company has a 50-day moving average of $139.04 and a 200-day moving average of $155.04. The company has a market capitalization of $11.81 billion, a price-to-earnings ratio of 31.90, a PEG ratio of 1.93 and a beta of 1.86. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $246.19.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.23. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The business had revenue of $995.69 million for the quarter, compared to analysts’ expectations of $980.75 million. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.35 earnings per share. Sell-side analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Weiss Ratings downgraded shares of Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Morgan Stanley increased their price target on shares of Align Technology from $142.00 to $154.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Leerink Partners boosted their price objective on shares of Align Technology from $172.00 to $189.00 in a report on Thursday, October 30th. Stifel Nicolaus set a $200.00 target price on shares of Align Technology in a research note on Thursday, October 30th. Finally, Mizuho decreased their target price on Align Technology from $210.00 to $170.00 and set an “outperform” rating on the stock in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $175.00.

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.