Natixis Cuts Position in Align Technology, Inc. (NASDAQ:ALGN)

Natixis lowered its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 47.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,715 shares of the medical equipment provider's stock after selling 5,110 shares during the quarter. Natixis' holdings in Align Technology were worth $1,192,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in ALGN. Norges Bank acquired a new position in Align Technology during the fourth quarter worth $190,792,000. Meridiem Investment Management Ltd. increased its position in shares of Align Technology by 63.7% in the fourth quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider's stock valued at $159,470,000 after buying an additional 297,472 shares in the last quarter. Senvest Management LLC raised its stake in shares of Align Technology by 58.1% during the 4th quarter. Senvest Management LLC now owns 726,243 shares of the medical equipment provider's stock worth $151,429,000 after buying an additional 267,000 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of Align Technology in the 4th quarter worth about $47,853,000. Finally, Raymond James Financial Inc. acquired a new stake in Align Technology in the 4th quarter valued at about $42,243,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALGN has been the subject of a number of research reports. Leerink Partnrs upgraded shares of Align Technology from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. HSBC lowered Align Technology from a "buy" rating to a "hold" rating and reduced their target price for the company from $290.00 to $170.00 in a research note on Friday. Morgan Stanley lowered their target price on Align Technology from $280.00 to $272.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Evercore ISI boosted their price target on Align Technology from $240.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. Finally, Wells Fargo & Company initiated coverage on Align Technology in a research note on Friday, February 14th. They set an "overweight" rating and a $255.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $245.75.

Align Technology Stock Down 2.4 %

Shares of ALGN stock traded down $4.43 during trading hours on Tuesday, hitting $176.66. 557,435 shares of the company were exchanged, compared to its average volume of 883,195. Align Technology, Inc. has a 1 year low of $141.74 and a 1 year high of $313.29. The firm has a fifty day moving average of $169.59 and a 200 day moving average of $202.06. The firm has a market cap of $12.93 billion, a PE ratio of 31.44, a PEG ratio of 2.24 and a beta of 1.73.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts' consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. Analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current year.

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.