Universal Beteiligungs und Servicegesellschaft mbH Cuts Holdings in Align Technology, Inc. $ALGN

Universal Beteiligungs und Servicegesellschaft mbH lessened its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 23.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 124,203 shares of the medical equipment provider’s stock after selling 37,204 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.17% of Align Technology worth $15,553,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALGN. Norges Bank acquired a new position in shares of Align Technology in the 2nd quarter valued at about $155,297,000. Ninety One UK Ltd lifted its position in Align Technology by 18.3% during the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock valued at $283,898,000 after buying an additional 350,883 shares in the last quarter. Nordea Investment Management AB lifted its position in Align Technology by 94.5% during the second quarter. Nordea Investment Management AB now owns 638,341 shares of the medical equipment provider’s stock valued at $121,055,000 after buying an additional 310,091 shares in the last quarter. Bank of America Corp DE grew its stake in Align Technology by 60.7% during the second quarter. Bank of America Corp DE now owns 786,637 shares of the medical equipment provider’s stock worth $148,934,000 after buying an additional 297,117 shares during the period. Finally, Artisan Partners Limited Partnership acquired a new stake in shares of Align Technology in the second quarter worth $55,061,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently weighed in on ALGN. Jefferies Financial Group lifted their target price on shares of Align Technology from $140.00 to $155.00 in a report on Thursday, October 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $200.00 target price (up previously from $190.00) on shares of Align Technology in a research report on Thursday, October 30th. Mizuho raised their target price on Align Technology from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday. Leerink Partners boosted their price target on Align Technology from $189.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Stifel Nicolaus set a $200.00 price objective on shares of Align Technology in a research report on Thursday, October 30th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $176.82.

Align Technology Stock Down 0.1%

Shares of NASDAQ ALGN opened at $168.73 on Friday. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $234.39. The business has a 50 day moving average price of $157.96 and a two-hundred day moving average price of $150.75. The firm has a market cap of $12.11 billion, a PE ratio of 32.70, a price-to-earnings-growth ratio of 1.90 and a beta of 1.83.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.23. Align Technology had a return on equity of 13.96% and a net margin of 9.50%.The company had revenue of $995.69 million for the quarter, compared to analyst estimates of $980.75 million. During the same period in the prior year, the company posted $2.35 EPS. Align Technology’s quarterly revenue was up 1.8% on a year-over-year basis. On average, analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Align Technology Company Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.