Mn Services Vermogensbeheer B.V. Has $4.22 Million Position in Align Technology, Inc. (NASDAQ:ALGN)

Mn Services Vermogensbeheer B.V. reduced its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 11.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,538 shares of the medical equipment provider's stock after selling 3,300 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Align Technology were worth $4,216,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ALGN. Empowered Funds LLC raised its stake in Align Technology by 32.4% during the fourth quarter. Empowered Funds LLC now owns 1,280 shares of the medical equipment provider's stock worth $267,000 after acquiring an additional 313 shares in the last quarter. Van ECK Associates Corp bought a new stake in shares of Align Technology during the fourth quarter worth $2,415,000. Asset Management One Co. Ltd. grew its holdings in shares of Align Technology by 0.9% during the fourth quarter. Asset Management One Co. Ltd. now owns 27,615 shares of the medical equipment provider's stock worth $5,839,000 after purchasing an additional 246 shares during the last quarter. Principal Securities Inc. grew its holdings in shares of Align Technology by 34.5% during the fourth quarter. Principal Securities Inc. now owns 1,881 shares of the medical equipment provider's stock worth $392,000 after purchasing an additional 483 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Align Technology by 1,479.1% during the fourth quarter. Allworth Financial LP now owns 2,416 shares of the medical equipment provider's stock worth $504,000 after purchasing an additional 2,263 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Hsbc Global Res cut Align Technology from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. Mizuho decreased their target price on Align Technology from $250.00 to $245.00 and set an "outperform" rating on the stock in a report on Tuesday, April 29th. HSBC cut 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 decreased their price target on Align Technology from $240.00 to $215.00 and set a "neutral" rating on the stock in a report on Thursday, April 24th. Finally, Needham & Company LLC restated a "hold" rating on shares of Align Technology in a report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $241.25.

Align Technology Price Performance

NASDAQ:ALGN opened at $175.16 on Wednesday. Align Technology, Inc. has a fifty-two week low of $141.74 and a fifty-two week high of $263.24. The business's 50-day simple moving average is $177.66 and its 200-day simple moving average is $192.18. The stock has a market capitalization of $12.70 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 1.93 and a beta of 1.64.

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

Align Technology announced that its Board of Directors has initiated a share repurchase program on Tuesday, May 6th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the medical equipment provider to reacquire up to 7.9% of its stock through open market purchases. Stock buyback programs are often an indication 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.

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