Zurcher Kantonalbank Zurich Cantonalbank Raises Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Align Technology, Inc. (NASDAQ:ALGN) by 7.1% during the fourth quarter, HoldingsChannel reports. The firm owned 28,981 shares of the medical equipment provider’s stock after purchasing an additional 1,916 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Align Technology were worth $6,043,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings in shares of Align Technology by 10,700.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 107 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Align Technology during the third quarter worth about $32,000. Private Trust Co. NA raised its holdings in Align Technology by 113.4% in the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 93 shares during the last quarter. Quarry LP lifted its stake in Align Technology by 74.8% in the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock worth $56,000 after purchasing an additional 95 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Align Technology by 212.2% during the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after purchasing an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Up 3.5 %

Shares of NASDAQ ALGN opened at $166.20 on Friday. Align Technology, Inc. has a 52-week low of $158.13 and a 52-week high of $335.40. The business’s 50 day moving average is $203.61 and its two-hundred day moving average is $218.99. The firm has a market cap of $12.23 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. Analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on ALGN. Mizuho began coverage on Align Technology in a report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price target for the company. Evercore ISI boosted their price target on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Jefferies Financial Group cut their price objective on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Bank of America boosted their target price on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Finally, Morgan Stanley cut their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two 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.com, Align Technology currently has a consensus rating of “Moderate Buy” and an average price target of $269.91.

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.