B. Metzler seel. Sohn & Co. AG Sells 1,200 Shares of Align Technology, Inc. (NASDAQ:ALGN)

B. Metzler seel. Sohn & Co. AG lessened its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 41.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,719 shares of the medical equipment provider’s stock after selling 1,200 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Align Technology were worth $358,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Picton Mahoney Asset Management lifted its stake in shares of Align Technology by 69.9% in the 4th 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. Smartleaf Asset Management LLC lifted its position in Align Technology by 9.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 766 shares of the medical equipment provider’s stock worth $158,000 after buying an additional 64 shares during the last quarter. Beech Hill Advisors Inc. boosted its stake in Align Technology by 0.6% during the fourth quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider’s stock worth $2,425,000 after buying an additional 65 shares during the period. New York Life Investment Management LLC increased its position in Align Technology by 0.7% during the fourth quarter. New York Life Investment Management LLC now owns 9,406 shares of the medical equipment provider’s stock valued at $1,961,000 after acquiring an additional 68 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Align Technology by 1.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider’s stock valued at $1,626,000 after acquiring an additional 91 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Analysts Set New Price Targets

ALGN has been the topic of several analyst reports. Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and upped their price target for the company from $235.00 to $280.00 in a report on Monday, January 6th. Wells Fargo & Company assumed coverage on Align Technology in a report on Friday, February 14th. They issued an “overweight” rating and a $255.00 price target on the stock. Jefferies Financial Group dropped their price objective on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Mizuho reduced their target price on Align Technology from $295.00 to $250.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 25th. Finally, Piper Sandler reissued an “overweight” rating and set a $235.00 target price (down from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and a consensus target price of $262.64.

Align Technology Stock Performance

Shares of ALGN opened at $153.51 on Friday. The company has a 50 day moving average price of $186.45 and a 200-day moving average price of $211.96. Align Technology, Inc. has a fifty-two week low of $143.00 and a fifty-two week high of $331.64. The stock has a market capitalization of $11.24 billion, a PE ratio of 27.36, a PEG ratio of 2.24 and a beta of 1.73.

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

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.