Swiss National Bank Sells 11,700 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Swiss National Bank lowered its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 5.5% in the 4th quarter, HoldingsChannel reports. The firm owned 200,500 shares of the medical equipment provider’s stock after selling 11,700 shares during the quarter. Swiss National Bank’s holdings in Align Technology were worth $41,806,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Empirical Finance LLC raised its holdings in shares of Align Technology by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock valued at $632,000 after purchasing an additional 50 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Align Technology by 9.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 766 shares of the medical equipment provider’s stock worth $158,000 after acquiring an additional 64 shares in the last quarter. Beech Hill Advisors Inc. raised its stake in shares of Align Technology by 0.6% during the 4th quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider’s stock worth $2,425,000 after acquiring an additional 65 shares in the last quarter. New York Life Investment Management LLC raised its stake in shares of Align Technology by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 9,406 shares of the medical equipment provider’s stock worth $1,961,000 after acquiring an additional 68 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Align Technology by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider’s stock worth $1,626,000 after acquiring an additional 91 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

ALGN stock opened at $166.20 on Monday. The firm’s fifty day simple moving average is $203.61 and its 200-day simple moving average is $218.78. The company has a market capitalization of $12.23 billion, a P/E ratio of 29.63, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 12 month low of $158.13 and a 12 month high of $335.40.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) 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%. As a group, sell-side analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analyst Weigh In

ALGN has been the subject of several recent analyst reports. Jefferies Financial Group reduced their price objective on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Evercore ISI boosted their price objective on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Wells Fargo & Company assumed coverage on shares of Align Technology in a research note on Friday, February 14th. They set an “overweight” rating and a $255.00 price objective for the company. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Finally, Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Align Technology currently has an average rating of “Moderate Buy” and a consensus target price of $269.91.

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.