Edmond DE Rothschild Holding S.A. Decreases Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Edmond DE Rothschild Holding S.A. cut its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 54.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 25,218 shares of the medical equipment provider’s stock after selling 29,738 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Align Technology were worth $5,258,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. True Wealth Design LLC boosted its position in shares of Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 107 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Align Technology in the third quarter valued at approximately $32,000. Picton Mahoney Asset Management grew its holdings in shares of Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 58 shares in the last quarter. Private Trust Co. NA increased its stake in Align Technology by 113.4% during the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock worth $36,000 after buying an additional 93 shares during the period. Finally, Quarry LP lifted its holdings 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 buying an additional 95 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Price Performance

Shares of NASDAQ:ALGN opened at $158.86 on Tuesday. Align Technology, Inc. has a 12 month low of $153.77 and a 12 month high of $331.64. The firm has a market capitalization of $11.69 billion, a P/E ratio of 28.32, a P/E/G ratio of 2.24 and a beta of 1.69. The company’s fifty day moving average price is $192.42 and its 200 day moving average price is $213.98.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on ALGN. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. Evercore ISI increased their price target on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Wells Fargo & Company initiated coverage on Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 price objective for the company. Finally, Bank of America upped their target price on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $262.64.

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.