Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 52.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,849 shares of the medical equipment provider’s stock after purchasing an additional 638 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Align Technology were worth $607,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Czech National Bank raised its position in shares of Align Technology by 0.5% in the first quarter. Czech National Bank now owns 12,532 shares of the medical equipment provider’s stock valued at $4,109,000 after buying an additional 57 shares during the last quarter. Mather Group LLC. acquired a new stake in Align Technology in the 1st quarter valued at about $26,000. GAMMA Investing LLC raised its holdings in Align Technology by 42.1% in the 1st quarter. GAMMA Investing LLC now owns 706 shares of the medical equipment provider’s stock valued at $232,000 after acquiring an additional 209 shares during the last quarter. Los Angeles Capital Management LLC lifted its stake in Align Technology by 76.5% in the 1st quarter. Los Angeles Capital Management LLC now owns 4,721 shares of the medical equipment provider’s stock worth $1,548,000 after purchasing an additional 2,046 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Align Technology by 18.2% during the 1st quarter. CWM LLC now owns 3,803 shares of the medical equipment provider’s stock worth $1,247,000 after purchasing an additional 585 shares during the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Stock Performance

Align Technology stock opened at $242.19 on Friday. The firm has a 50 day moving average price of $272.89 and a 200 day moving average price of $282.94. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $413.20. The company has a market capitalization of $18.23 billion, a PE ratio of 39.90, a price-to-earnings-growth ratio of 4.49 and a beta of 1.62.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. The business had revenue of $997.43 million during the quarter, compared to analysts’ expectations of $971.97 million. As a group, equities research analysts forecast that Align Technology, Inc. will post 7.86 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on ALGN shares. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. OTR Global restated a “mixed” rating on shares of Align Technology in a research report on Tuesday, June 4th. Stifel Nicolaus boosted their target price on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Evercore ISI dropped their price target on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, June 10th. Finally, Morgan Stanley lifted their price target on shares of Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $346.50.

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.