Mn Services Vermogensbeheer B.V. Sells 3,300 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Mn Services Vermogensbeheer B.V. decreased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 11.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,538 shares of the medical equipment provider’s stock after selling 3,300 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Align Technology were worth $4,216,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ALGN. Covestor Ltd increased its position in shares of Align Technology by 14.6% in the fourth quarter. Covestor Ltd now owns 415 shares of the medical equipment provider’s stock worth $87,000 after purchasing an additional 53 shares during the period. Picton Mahoney Asset Management boosted its stake in shares of Align Technology by 69.9% during the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 58 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Align Technology by 9.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 766 shares of the medical equipment provider’s stock valued at $158,000 after purchasing an additional 64 shares in the last quarter. New York Life Investment Management LLC boosted its stake in shares of Align Technology by 0.7% during the fourth quarter. New York Life Investment Management LLC now owns 9,406 shares of the medical equipment provider’s stock valued at $1,961,000 after purchasing an additional 68 shares in the last quarter. Finally, Fulcrum Capital LLC lifted its stake in shares of Align Technology by 0.8% in the first quarter. Fulcrum Capital LLC now owns 9,282 shares of the medical equipment provider’s stock worth $1,475,000 after acquiring an additional 70 shares during the period. Institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

ALGN has been the topic of a number of recent analyst reports. Evercore ISI lifted their price objective on Align Technology from $165.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. Hsbc Global Res downgraded Align Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. UBS Group decreased their price objective on Align Technology from $240.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Wells Fargo & Company decreased their price target on Align Technology from $255.00 to $246.00 and set an “overweight” rating for the company in a report on Thursday, May 1st. Finally, Mizuho cut their price objective on Align Technology from $250.00 to $245.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $241.25.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $175.16 on Wednesday. Align Technology, Inc. has a one year low of $141.74 and a one year high of $263.24. The business’s fifty day moving average price is $177.66 and its 200-day moving average price is $192.18. The stock has a market capitalization of $12.70 billion, a PE ratio of 31.91, a P/E/G ratio of 1.93 and a beta of 1.64.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, April 30th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.13. The business had revenue of $979.26 million for the quarter, compared to analysts’ expectations of $977.90 million. Align Technology had a return on equity of 13.52% and a net margin of 10.29%. The firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.14 EPS. As a group, equities analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Align Technology declared that its Board of Directors has authorized a share repurchase program on Tuesday, May 6th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the medical equipment provider to purchase up to 7.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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.