Carmignac Gestion Has $53.50 Million Position in Align Technology, Inc. $ALGN

Key Points

• Carmignac Gestion increased its Align Technology position by 40.7% in the second quarter, purchasing 91,661 additional shares. Its 316,832 shares were valued at approximately $53.5 million, representing about 0.44% of the company.
• Institutional investors and hedge funds own 88.43% of Align Technology. Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a $206.36 price target.
• Align shares recently fell 3.2% to $153.49, below their 50-day and 200-day moving averages. The company slightly exceeded quarterly earnings and revenue expectations, reporting $2.64 in EPS and $1.06 billion in revenue, with revenue up 4.3% year over year.

Carmignac Gestion raised its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 40.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 316,832 shares of the medical equipment provider's stock after purchasing an additional 91,661 shares during the period. Carmignac Gestion owned approximately 0.44% of Align Technology worth $53,496,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Align Technology by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider's stock valued at $1,624,000 after buying an additional 469 shares in the last quarter. Focus Partners Wealth lifted its holdings in Align Technology by 5.2% during the first quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider's stock worth $486,000 after acquiring an additional 151 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Align Technology in the second quarter valued at about $204,000. EverSource Wealth Advisors LLC grew its stake in Align Technology by 55.7% in the second quarter. EverSource Wealth Advisors LLC now owns 531 shares of the medical equipment provider's stock valued at $101,000 after acquiring an additional 190 shares during the period. Finally, First Trust Advisors LP grew its stake in Align Technology by 201.7% in the second quarter. First Trust Advisors LP now owns 88,270 shares of the medical equipment provider's stock valued at $16,712,000 after acquiring an additional 59,010 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. BMO Capital Markets assumed coverage on Align Technology in a research report on Wednesday, July 8th. They set an "outperform" rating and a $209.00 price target on the stock. Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a research note on Thursday, July 30th. Wall Street Zen downgraded shares of Align Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. UBS Group reaffirmed a "neutral" rating and issued a $189.00 price target on shares of Align Technology in a research note on Thursday, July 23rd. Finally, Zacks Research cut shares of Align Technology from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $206.36.

Align Technology Stock Down 3.2%

Shares of NASDAQ:ALGN traded down $5.14 during mid-day trading on Tuesday, reaching $153.49. 807,192 shares of the stock were exchanged, compared to its average volume of 1,080,500. The company has a market cap of $10.99 billion, a P/E ratio of 26.69, a P/E/G ratio of 1.69 and a beta of 1.65. Align Technology, Inc. has a one year low of $122.00 and a one year high of $200.43. The stock's 50 day simple moving average is $170.91 and its 200-day simple moving average is $173.44.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 EPS for the quarter, beating the consensus estimate of $2.62 by $0.02. Align Technology had a return on equity of 15.86% and a net margin of 9.99%.The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the previous year, the business posted $2.49 EPS. The business's quarterly revenue was up 4.3% compared to the same quarter last year. Analysts anticipate that Align Technology, Inc. will post 9.38 EPS for the current fiscal 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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