Mn Services Vermogensbeheer B.V. Sells 3,300 Shares of Align Technology, Inc. (NASDAQ:ALGN)

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

Several other institutional investors have also bought and sold shares of ALGN. Picton Mahoney Asset Management lifted its stake in Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock valued at $30,000 after purchasing an additional 58 shares during the last quarter. GKV Capital Management Co. Inc. purchased a new position in Align Technology in the fourth quarter valued at approximately $31,000. Compagnie Lombard Odier SCmA purchased a new position in Align Technology in the first quarter valued at approximately $32,000. Aster Capital Management DIFC Ltd purchased a new position in Align Technology in the fourth quarter valued at approximately $35,000. Finally, Private Trust Co. NA lifted its stake in Align Technology by 113.4% in the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock valued at $36,000 after purchasing an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research report on Thursday, May 1st. Wells Fargo & Company dropped their target price on Align Technology from $255.00 to $246.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Hsbc Global Res downgraded Align Technology from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. UBS Group dropped their target price on Align Technology from $240.00 to $215.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Finally, Evercore ISI increased their target price on Align Technology from $165.00 to $200.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Align Technology currently has a consensus rating of "Moderate Buy" and an average price target of $241.25.

Align Technology Stock Performance

ALGN traded up $1.78 during trading on Friday, reaching $181.79. The stock had a trading volume of 1,275,883 shares, compared to its average volume of 914,976. The stock has a market cap of $13.18 billion, a PE ratio of 33.11, a PEG ratio of 1.93 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 business has a 50-day moving average of $178.71 and a 200-day moving average of $191.06.

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

Align Technology declared that its Board of Directors has initiated a share buyback plan 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 repurchase up to 7.9% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

Align Technology 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.