Oddo BHF Asset Management Sas Invests $747,000 in Align Technology, Inc. (NASDAQ:ALGN)

Oddo BHF Asset Management Sas bought a new stake in Align Technology, Inc. (NASDAQ:ALGN) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,937 shares of the medical equipment provider’s stock, valued at approximately $747,000.

A number of other hedge funds have also made changes to their positions in ALGN. Cullen Frost Bankers Inc. boosted its holdings in Align Technology by 854.5% in the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 94 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Align Technology in the 2nd quarter valued at approximately $26,000. Rothschild Investment LLC acquired a new position in Align Technology during the second quarter worth $26,000. True Wealth Design LLC lifted its holdings in 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 purchasing an additional 107 shares during the last quarter. Finally, University of Texas Texas AM Investment Management Co. bought a new position in Align Technology in the 2nd quarter valued at $31,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Morgan Stanley decreased their price objective on Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Evercore ISI reduced their price objective on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Robert W. Baird dropped their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. Finally, Mizuho started coverage on Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price target for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $271.20.

Align Technology Stock Performance

NASDAQ ALGN opened at $235.39 on Friday. The company has a fifty day moving average of $224.11 and a 200-day moving average of $234.30. Align Technology, Inc. has a 52-week low of $196.09 and a 52-week high of $335.40. The company has a market capitalization of $17.57 billion, a P/E ratio of 40.17, a P/E/G ratio of 6.20 and a beta of 1.66.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.04. The firm had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. During the same quarter in the previous year, the company posted $1.62 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. As a group, analysts forecast that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.

Align Technology 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.