Align Technology, Inc. $ALGN Shares Sold by Swiss Life Asset Management Ltd

Key Points

• Swiss Life Asset Management cut its stake in Align Technology by 40.5% in Q3, selling 6,893 shares and ending the period with 10,147 shares valued at about $1.27 million.
• EVP John Morici sold 7,969 shares at an average price of $189.31 for roughly $1.51 million, reducing his position by 49.17%; insiders now own just 0.66% of the company.
• Analysts are mixed but the stock has an average rating of "Moderate Buy" with a $198.08 average price target, and Align recently beat estimates with $3.29 EPS (vs. $2.99) and $1.05B revenue, up 5.3% year‑over‑year.

Swiss Life Asset Management Ltd decreased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 40.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,147 shares of the medical equipment provider's stock after selling 6,893 shares during the period. Swiss Life Asset Management Ltd's holdings in Align Technology were worth $1,271,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Arizona State Retirement System lifted its holdings in Align Technology by 0.4% during the 3rd quarter. Arizona State Retirement System now owns 20,387 shares of the medical equipment provider's stock worth $2,553,000 after buying an additional 79 shares during the last quarter. Sentry Investment Management LLC increased its holdings in shares of Align Technology by 73.1% in the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider's stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. Royal London Asset Management Ltd. raised its position in shares of Align Technology by 0.3% during the 2nd quarter. Royal London Asset Management Ltd. now owns 31,629 shares of the medical equipment provider's stock valued at $5,988,000 after acquiring an additional 93 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Align Technology by 16.7% during the second quarter. Smartleaf Asset Management LLC now owns 726 shares of the medical equipment provider's stock worth $137,000 after purchasing an additional 104 shares during the last quarter. Finally, MAI Capital Management lifted its stake in Align Technology by 84.8% during the second quarter. MAI Capital Management now owns 255 shares of the medical equipment provider's stock worth $48,000 after purchasing an additional 117 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ALGN has been the subject of several recent research reports. Barclays upgraded shares of Align Technology from an "equal weight" rating to an "overweight" rating and set a $200.00 target price for the company in a research note on Tuesday, March 17th. Stifel Nicolaus boosted their price objective on shares of Align Technology from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Jefferies Financial Group increased their price objective on shares of Align Technology from $155.00 to $185.00 and gave the stock a "hold" rating in a research note on Thursday, February 5th. Morgan Stanley lifted their target price on Align Technology from $154.00 to $169.00 and gave the company an "equal weight" rating in a research note on Thursday, February 5th. Finally, Leerink Partners upped their target price on Align Technology from $210.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $198.08.

Insiders Place Their Bets

In other Align Technology news, EVP John Morici sold 7,969 shares of Align Technology stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the sale, the executive vice president owned 8,237 shares of the company's stock, valued at $1,559,346.47. The trade was a 49.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is owned by insiders.

Align Technology Stock Up 4.4%

Align Technology stock opened at $180.86 on Tuesday. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $208.30. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of 31.95, a PEG ratio of 1.89 and a beta of 1.79. The firm has a 50-day moving average price of $176.73 and a two-hundred day moving average price of $154.87.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, beating the consensus estimate of $2.99 by $0.30. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. Align Technology's revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the business earned $2.44 earnings per share. Research analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Align Technology Company Profile

Align Technology, Inc NASDAQ: ALGN pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company's signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.

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