2Xideas AG Sells 16,481 Shares of Align Technology, Inc. $ALGN

2Xideas AG lowered its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 50.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,948 shares of the medical equipment provider’s stock after selling 16,481 shares during the quarter. 2Xideas AG’s holdings in Align Technology were worth $1,997,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ALGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Align Technology by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock valued at $1,624,000 after purchasing an additional 469 shares during the last quarter. Focus Partners Wealth grew its stake in Align Technology by 5.2% in the 1st quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock valued at $486,000 after buying an additional 151 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Align Technology in the second quarter valued at $204,000. Los Angeles Capital Management LLC bought a new position in Align Technology in the 2nd quarter worth about $282,000. Finally, ProShare Advisors LLC grew its holdings in Align Technology by 9.3% during the 2nd quarter. ProShare Advisors LLC now owns 12,151 shares of the medical equipment provider’s stock valued at $2,301,000 after buying an additional 1,033 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALGN. Robert W. Baird set a $218.00 target price on shares of Align Technology in a report on Thursday, February 5th. UBS Group raised their price target on shares of Align Technology from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Morgan Stanley boosted their price target on shares of Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Weiss Ratings upgraded Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. Finally, Jefferies Financial Group raised their price target on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a report on Thursday, February 5th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Align Technology currently has a consensus rating of “Hold” and an average target price of $198.08.

Insider Activity at Align Technology

In other news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the completion of the transaction, the executive vice president directly owned 8,237 shares in the company, valued at $1,559,346.47. This trade represents a 49.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Align Technology Price Performance

NASDAQ:ALGN opened at $164.23 on Friday. The firm has a market capitalization of $11.71 billion, a P/E ratio of 29.02, a PEG ratio of 1.82 and a beta of 1.79. Align Technology, Inc. has a one year low of $122.00 and a one year high of $208.30. The company’s 50-day simple moving average is $175.96 and its 200 day simple moving average is $153.17.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $0.30. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm earned $2.44 earnings per share. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, equities research analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal 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.