Achmea Investment Management B.V. Increases Position in Align Technology, Inc. (NASDAQ:ALGN)

Achmea Investment Management B.V. increased its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 38.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,538 shares of the medical equipment provider's stock after acquiring an additional 3,183 shares during the quarter. Achmea Investment Management B.V.'s holdings in Align Technology were worth $1,833,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management boosted its position in shares of Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock worth $30,000 after purchasing an additional 58 shares during the period. GKV Capital Management Co. Inc. purchased a new position in shares of Align Technology during the 4th quarter valued at $31,000. Compagnie Lombard Odier SCmA purchased a new position in shares of Align Technology during the 1st quarter valued at $32,000. Aster Capital Management DIFC Ltd bought a new position in Align Technology in the 4th quarter worth $35,000. Finally, Center for Financial Planning Inc. purchased a new stake in Align Technology in the 1st quarter worth $35,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Evercore ISI upped 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 lowered Align Technology from a "buy" rating to a "hold" rating and decreased their price target for the company from $290.00 to $170.00 in a report on Friday, April 25th. UBS Group dropped their price objective on shares of Align Technology from $240.00 to $215.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Piper Sandler reissued an "overweight" rating and issued a $250.00 target price (up previously from $235.00) on shares of Align Technology in a research note on Thursday, May 1st. Finally, Mizuho lowered their target price on shares of Align Technology from $250.00 to $245.00 and set an "outperform" rating for the company in a report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, four have given 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 has an average rating of "Moderate Buy" and an average price target of $241.25.

Align Technology Trading Up 0.4%

Shares of ALGN traded up $0.81 during trading hours on Monday, hitting $189.33. The company had a trading volume of 562,316 shares, compared to its average volume of 911,921. The company has a market capitalization of $13.72 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 2.00 and a beta of 1.64. Align Technology, Inc. has a one year low of $141.74 and a one year high of $263.24. The company's fifty day moving average price is $180.58 and its two-hundred day moving average price is $189.06.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The medical equipment provider reported $2.13 EPS for the quarter, topping analysts' consensus estimates of $2.00 by $0.13. The business had revenue of $979.26 million during the quarter, compared to the consensus estimate of $977.90 million. Align Technology had a net margin of 10.29% and a return on equity of 13.52%. The firm's revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $2.14 earnings per share. Analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Align Technology declared that its Board of Directors has approved a stock buyback plan on Tuesday, May 6th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the medical equipment provider to repurchase up to 7.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is 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.