Pictet North America Advisors SA Raises Stake in Align Technology, Inc. (NASDAQ:ALGN)

by · The Markets Daily

Pictet North America Advisors SA raised its holdings in Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,143 shares of the medical equipment provider’s stock after buying an additional 88 shares during the quarter. Pictet North America Advisors SA’s holdings in Align Technology were worth $2,071,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Cullen Frost Bankers Inc. increased its holdings in shares of Align Technology by 854.5% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 94 shares during the last quarter. Mather Group LLC. acquired a new position in shares of Align Technology during the first quarter worth about $26,000. Innealta Capital LLC acquired a new stake in shares of Align Technology in the second quarter valued at about $26,000. Rothschild Investment LLC purchased a new stake in shares of Align Technology during the second quarter valued at approximately $26,000. Finally, Versant Capital Management Inc grew its stake in shares of Align Technology by 547.1% during the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 93 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Price Performance

Shares of NASDAQ:ALGN opened at $210.81 on Wednesday. The stock has a market cap of $15.87 billion, a price-to-earnings ratio of 34.73, a PEG ratio of 5.33 and a beta of 1.64. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $335.40. The stock’s 50 day moving average price is $234.45 and its 200 day moving average price is $251.27.

Align Technology (NASDAQ:ALGN – Get Free Report) last announced its earnings results on Wednesday, July 24th. The medical equipment provider reported $2.41 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.09. Align Technology had a return on equity of 14.07% and a net margin of 11.34%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business posted $1.73 earnings per share. The company’s quarterly revenue was up 2.6% on a year-over-year basis. On average, sell-side analysts expect that Align Technology, Inc. will post 7.61 EPS for the current year.

Insider Buying and Selling

In other Align Technology news, Director C Raymond Larkin, Jr. purchased 6,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $235.33 per share, for a total transaction of $1,529,645.00. Following the completion of the transaction, the director now owns 28,247 shares in the company, valued at $6,647,366.51. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.62% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Morgan Stanley dropped their price target on shares of Align Technology from $328.00 to $310.00 and set an “overweight” rating for the company in a research note on Thursday, July 25th. Piper Sandler decreased their price target on Align Technology from $315.00 to $285.00 and set an “overweight” rating for the company in a research note on Thursday, October 17th. Stifel Nicolaus reduced their price objective on Align Technology from $350.00 to $285.00 and set a “buy” rating on the stock in a research note on Friday, October 11th. Evercore ISI lowered their target price on shares of Align Technology from $280.00 to $270.00 and set an “outperform” rating for the company in a research note on Tuesday, October 8th. Finally, StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Align Technology currently has an average rating of “Hold” and an average target price of $291.25.

View Our Latest Research Report on Align Technology

Align Technology Company Profile

(Free Report)

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.

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