Bank Julius Baer & Co. Ltd Zurich Has $33,000 Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Bank Julius Baer & Co. Ltd Zurich reduced its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 97.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 120 shares of the medical equipment provider's stock after selling 4,654 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Align Technology were worth $33,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ALGN. DAVENPORT & Co LLC lifted its position in shares of Align Technology by 3.1% during the 3rd quarter. DAVENPORT & Co LLC now owns 2,172 shares of the medical equipment provider's stock valued at $663,000 after acquiring an additional 66 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in shares of Align Technology by 1.3% during the 3rd quarter. Asset Management One Co. Ltd. now owns 30,319 shares of the medical equipment provider's stock valued at $9,257,000 after acquiring an additional 387 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of Align Technology by 3.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 32,348 shares of the medical equipment provider's stock valued at $9,876,000 after acquiring an additional 936 shares during the last quarter. Ascent Wealth Partners LLC lifted its position in shares of Align Technology by 16.4% during the 3rd quarter. Ascent Wealth Partners LLC now owns 1,087 shares of the medical equipment provider's stock valued at $332,000 after acquiring an additional 153 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in shares of Align Technology by 9.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 5,046 shares of the medical equipment provider's stock valued at $1,541,000 after acquiring an additional 435 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Trading Down 1.4 %

Align Technology stock traded down $4.20 during mid-day trading on Monday, hitting $304.82. 515,007 shares of the company's stock were exchanged, compared to its average volume of 753,383. The stock has a market cap of $22.94 billion, a P/E ratio of 50.22, a P/E/G ratio of 5.85 and a beta of 1.65. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20. The stock has a 50 day moving average of $313.31 and a two-hundred day moving average of $271.08.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.78 by $0.13. The firm had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. As a group, research analysts predict that Align Technology, Inc. will post 7.69 EPS for the current fiscal year.

Insider Activity

In other news, EVP Emory Wright sold 2,524 shares of the firm's stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares of the company's stock, valued at $203,802.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Emory Wright sold 2,524 shares of the firm's stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares of the company's stock, valued at $203,802.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the completion of the sale, the director now owns 131,994 shares of the company's stock, valued at approximately $40,023,220.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 27,524 shares of company stock valued at $8,403,924. 0.62% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Stifel Nicolaus increased their price objective on Align Technology from $350.00 to $400.00 and gave the company a "buy" rating in a research report on Thursday, April 18th. Morgan Stanley increased their target price on Align Technology from $344.00 to $360.00 and gave the company an "overweight" rating in a report on Thursday. Piper Sandler restated an "overweight" rating and issued a $375.00 target price (up previously from $355.00) on shares of Align Technology in a report on Thursday. Robert W. Baird increased their target price on Align Technology from $333.00 to $370.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Leerink Partnrs restated a "market perform" rating on shares of Align Technology in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $353.00.

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.