Raiffeisen Bank International AG Cuts Stock Holdings in Align Technology, Inc. $ALGN

Raiffeisen Bank International AG cut its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 72.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,282 shares of the medical equipment provider’s stock after selling 16,915 shares during the period. Raiffeisen Bank International AG’s holdings in Align Technology were worth $794,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sentry Investment Management LLC boosted its holdings in Align Technology by 73.1% in the third quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Align Technology in the 3rd quarter worth about $26,000. Rothschild Investment LLC lifted its stake in shares of Align Technology by 140.3% in the 2nd 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 in the last quarter. True Wealth Design LLC grew its holdings in shares of 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 worth $29,000 after purchasing an additional 153 shares during the period. Finally, Quent Capital LLC acquired a new stake in Align Technology during the 3rd quarter worth approximately $30,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Align Technology

In other Align Technology news, EVP John Morici sold 7,969 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total value of $1,508,611.39. Following the transaction, the executive vice president directly owned 8,237 shares of the company’s stock, valued at $1,559,346.47. This represents a 49.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.66% of the stock is owned by corporate insiders.

Align Technology Price Performance

NASDAQ:ALGN opened at $190.02 on Monday. The firm has a 50-day moving average of $169.74 and a two-hundred day moving average of $149.44. The stock has a market cap of $13.63 billion, a P/E ratio of 33.57, a PEG ratio of 2.08 and a beta of 1.84. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.99 by $0.30. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company earned $2.44 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, equities analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analysts Set New Price Targets

ALGN has been the subject of several research reports. Piper Sandler boosted their price objective on shares of Align Technology from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. Stifel Nicolaus increased their price target on Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 5th. HSBC boosted their price objective on Align Technology from $140.00 to $150.00 in a research note on Friday, October 31st. Finally, Leerink Partners increased their target price on Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Six research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $195.58.

Align Technology 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.