Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 7.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,981 shares of the medical equipment provider’s stock after purchasing an additional 1,916 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Align Technology were worth $6,043,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. True Wealth Design LLC raised its holdings in shares of Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 107 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Align Technology in the 3rd quarter worth $32,000. Private Trust Co. NA raised its stake in Align Technology by 113.4% in the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock worth $36,000 after acquiring an additional 93 shares during the last quarter. Quarry LP lifted its position in Align Technology by 74.8% during the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 95 shares during the period. Finally, Versant Capital Management Inc grew its stake in Align Technology by 212.2% during the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after purchasing an additional 157 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Price Performance

Align Technology stock opened at $166.20 on Friday. The stock has a market capitalization of $12.23 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. The business has a 50 day simple moving average of $203.61 and a 200-day simple moving average of $218.99. Align Technology, Inc. has a 12 month low of $158.13 and a 12 month high of $335.40.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. On average, equities research analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. Bank of America lifted their price objective on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Morgan Stanley cut their price objective on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Piper Sandler decreased their target price on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $269.91.

Align Technology Company 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.