Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by Groupama Asset Managment

Groupama Asset Managment decreased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 13.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 4,538 shares of the medical equipment provider’s stock after selling 680 shares during the quarter. Groupama Asset Managment’s holdings in Align Technology were worth $937,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Neo Ivy Capital Management acquired a new stake in shares of Align Technology in the third quarter valued at about $32,000. Picton Mahoney Asset Management boosted its holdings in Align Technology by 69.9% in the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 58 shares during 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 in the last quarter. Quarry LP lifted its position in shares of Align Technology by 74.8% in the third quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock valued at $56,000 after acquiring an additional 95 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Align Technology by 212.2% in the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Jefferies Financial Group reduced their price objective on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. Evercore ISI increased their price objective on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company initiated coverage on Align Technology in a report on Friday, February 14th. They set an “overweight” rating and a $255.00 target price on the stock. Finally, Mizuho cut their price target on Align Technology from $295.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Align Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $262.64.

Align Technology Price Performance

Shares of ALGN stock opened at $163.98 on Thursday. Align Technology, Inc. has a 1-year low of $153.77 and a 1-year high of $331.64. The firm has a market cap of $12.07 billion, a PE ratio of 29.23, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. The company has a 50-day moving average of $189.66 and a two-hundred day moving average of $213.03.

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

About Align Technology

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.