1,383,526 Align Technology, Inc. $ALGN Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. grew its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 69,628.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 1,385,513 shares of the medical equipment provider’s stock after buying an additional 1,383,526 shares during the quarter. Vontobel Holding Ltd.’s holdings in Align Technology were worth $183,335,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Assenagon Asset Management S.A. lifted its position in shares of Align Technology by 638.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 4,662,437 shares of the medical equipment provider’s stock worth $629,469,000 after purchasing an additional 4,031,284 shares during the period. BlackRock Inc. purchased a new position in Align Technology during the second quarter valued at approximately $745,370,000. Arrowstreet Capital Limited Partnership increased its holdings in Align Technology by 4.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,054,633 shares of the medical equipment provider’s stock valued at $180,796,000 after buying an additional 49,220 shares during the period. Dimensional Fund Advisors LP increased its holdings in Align Technology by 21.3% during the first quarter. Dimensional Fund Advisors LP now owns 972,519 shares of the medical equipment provider’s stock valued at $166,696,000 after buying an additional 170,523 shares during the period. Finally, Senvest Management LLC raised its stake in Align Technology by 8.6% in the first quarter. Senvest Management LLC now owns 754,797 shares of the medical equipment provider’s stock worth $129,395,000 after buying an additional 59,855 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ALGN. Robert W. Baird restated a “neutral” rating and set a $162.00 target price (down from $218.00) on shares of Align Technology in a report on Thursday. BMO Capital Markets initiated coverage on Align Technology in a research report on Wednesday, July 8th. They set an “outperform” rating and a $209.00 target price on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a report on Thursday, July 30th. Evercore lowered Align Technology from an “outperform” rating to an “in-line” rating and set a $155.00 price target for the company. in a research report on Monday, October 5th. Finally, Wall Street Zen lowered Align Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.14.

Align Technology Stock Performance

NASDAQ ALGN traded down $2.03 during trading hours on Friday, reaching $147.31. The stock had a trading volume of 952,959 shares, compared to its average volume of 990,319. The stock has a market cap of $10.55 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 1.59 and a beta of 1.67. Align Technology, Inc. has a 52-week low of $128.67 and a 52-week high of $200.43. The stock has a fifty day moving average of $154.01 and a 200 day moving average of $167.18.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 EPS for the quarter, topping the consensus estimate of $2.62 by $0.02. Align Technology had a return on equity of 15.86% and a net margin of 9.99%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company earned $2.49 earnings per share. Align Technology’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities research analysts forecast that Align Technology, Inc. will post 9.36 EPS for the current year.

Align Technology Company Profile

Align Technology, Inc is a medical device and digital technology company that designs, manufactures and markets products used in orthodontics and restorative dentistry. The company is best known for Invisalign clear aligners, which are custom-made orthodontic devices intended to gradually move patients’ teeth under the supervision of dental professionals.

Align also develops the iTero family of intraoral scanners and related digital imaging systems, which help dental professionals create digital impressions and treatment plans.