Swedbank AB Sells 14,268 Shares of Align Technology, Inc. $ALGN

Swedbank AB lessened its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.4% in the third quarter, HoldingsChannel.com reports. The fund owned 406,459 shares of the medical equipment provider’s stock after selling 14,268 shares during the period. Swedbank AB’s holdings in Align Technology were worth $50,897,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ALGN. Rothschild Investment LLC lifted its stake in Align Technology by 140.3% during the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 87 shares during the last quarter. True Wealth Design LLC increased its stake in shares of Align Technology by 7,650.0% in 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 last quarter. Cromwell Holdings LLC raised its holdings in shares of Align Technology by 2,900.0% during the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 174 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of Align Technology during the 1st quarter worth $36,000. Finally, CYBER HORNET ETFs LLC bought a new stake in shares of Align Technology during the 2nd quarter worth $36,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ALGN. Jefferies Financial Group boosted their target price on Align Technology from $140.00 to $155.00 in a research note on Thursday, October 30th. UBS Group decreased their price target on shares of Align Technology from $160.00 to $155.00 and set a “neutral” rating on the stock in a report on Thursday, October 16th. Zacks Research raised shares of Align Technology from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 30th. Evercore ISI cut their target price on shares of Align Technology from $220.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $172.18.

Align Technology Price Performance

ALGN opened at $156.45 on Thursday. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $237.23. The company’s 50 day moving average price is $145.16 and its two-hundred day moving average price is $153.75. The firm has a market capitalization of $11.22 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 1.91 and a beta of 1.86.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.23. The firm had revenue of $995.69 million during the quarter, compared to the consensus estimate of $980.75 million. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.35 earnings per share. As a group, equities research analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology Company Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.