Robeco Institutional Asset Management B.V. Boosts Stake in Align Technology, Inc. (NASDAQ:ALGN)

Robeco Institutional Asset Management B.V. boosted its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 69.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,336 shares of the medical equipment provider's stock after buying an additional 15,329 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.05% of Align Technology worth $5,931,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of ALGN. Picton Mahoney Asset Management raised 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 valued at $30,000 after buying an additional 58 shares during the last quarter. GKV Capital Management Co. Inc. purchased a new stake in Align Technology in the 4th quarter worth approximately $31,000. Aster Capital Management DIFC Ltd acquired a new position in Align Technology in the 4th quarter valued at $35,000. Private Trust Co. NA lifted its stake in shares of Align Technology by 113.4% during the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock worth $36,000 after purchasing an additional 93 shares during the period. Finally, Orion Capital Management LLC purchased a new position in shares of Align Technology during the 4th quarter worth $42,000. Institutional investors and hedge funds own 88.43% of the company's stock.

Align Technology Stock Performance

Shares of NASDAQ:ALGN traded down $0.06 during midday trading on Friday, hitting $196.93. 712,803 shares of the company's stock traded hands, compared to its average volume of 916,097. The firm's fifty day moving average price is $181.98 and its two-hundred day moving average price is $188.61. Align Technology, Inc. has a twelve month low of $141.74 and a twelve month high of $263.24. The company has a market cap of $14.28 billion, a PE ratio of 35.87, a P/E/G ratio of 2.09 and a beta of 1.63.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings data 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. Align Technology had a return on equity of 13.52% and a net margin of 10.29%. The company had revenue of $979.26 million for the quarter, compared to analysts' expectations of $977.90 million. During the same quarter in the previous year, the firm posted $2.14 earnings per share. The firm's quarterly revenue was down 1.8% on a year-over-year basis. As a group, equities research analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Align Technology announced that its board has initiated a share repurchase plan on Tuesday, May 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical equipment provider to reacquire up to 7.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

ALGN has been the subject of several analyst reports. Needham & Company LLC reiterated a "hold" rating on shares of Align Technology in a research note on Thursday, May 1st. Hsbc Global Res downgraded shares of Align Technology from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Wells Fargo & Company cut their price objective on shares of Align Technology from $255.00 to $246.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. HSBC cut shares of Align Technology from a "buy" rating to a "hold" rating and decreased their target price for the stock from $290.00 to $170.00 in a research report on Friday, April 25th. Finally, Mizuho dropped their price target on shares of Align Technology from $250.00 to $245.00 and set an "outperform" rating for the company in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $241.25.

About Align Technology

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.