Allianz Asset Management GmbH Has $101.60 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Allianz Asset Management GmbH lowered its position in Align Technology, Inc. (NASDAQ:ALGN) by 4.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 487,294 shares of the medical equipment provider’s stock after selling 22,260 shares during the period. Allianz Asset Management GmbH owned 0.65% of Align Technology worth $101,604,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in shares of Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 107 shares in the last quarter. Neo Ivy Capital Management bought a new position in Align Technology during the third quarter valued at about $32,000. Quarry LP increased its holdings in Align Technology by 74.8% during the third quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 95 shares during the last quarter. Versant Capital Management Inc boosted its stake in Align Technology by 212.2% in the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after acquiring an additional 157 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Align Technology during the 4th quarter valued at approximately $52,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of ALGN opened at $190.43 on Friday. Align Technology, Inc. has a 1 year low of $186.82 and a 1 year high of $335.40. The stock has a 50 day simple moving average of $215.05 and a two-hundred day simple moving average of $224.17. The firm has a market cap of $14.22 billion, a P/E ratio of 33.94, a P/E/G ratio of 2.38 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS 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%. On average, equities analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Jefferies Financial Group reduced 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. Evercore ISI upped their price objective on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company began coverage on shares of Align Technology in a research report on Friday, February 14th. They issued an “overweight” rating and a $255.00 price target on the stock. Mizuho assumed coverage on shares of Align Technology in a report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective for the company. Finally, Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Align Technology presently has an average rating of “Moderate Buy” and a consensus price target of $269.91.

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.