Align Technology, Inc. (NASDAQ:ALGN) Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 24.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,084 shares of the medical equipment provider’s stock after purchasing an additional 9,487 shares during the quarter. Pictet Asset Management Holding SA owned about 0.07% of Align Technology worth $10,235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALGN. Public Sector Pension Investment Board increased its holdings in shares of Align Technology by 11.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 2,839 shares of the medical equipment provider’s stock worth $722,000 after buying an additional 300 shares during the last quarter. Verition Fund Management LLC lifted its stake in shares of Align Technology by 462.1% in the 3rd quarter. Verition Fund Management LLC now owns 13,450 shares of the medical equipment provider’s stock valued at $3,421,000 after purchasing an additional 11,057 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Align Technology during the 3rd quarter worth approximately $1,562,000. Benjamin Edwards Inc. raised its holdings in Align Technology by 240.4% in the third quarter. Benjamin Edwards Inc. now owns 919 shares of the medical equipment provider’s stock valued at $234,000 after buying an additional 649 shares during the period. Finally, Investment Management Corp of Ontario grew its stake in Align Technology by 42.6% during the third quarter. Investment Management Corp of Ontario now owns 2,342 shares of the medical equipment provider’s stock worth $596,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

ALGN opened at $163.98 on Thursday. The stock’s 50 day moving average price is $189.66 and its 200 day moving average price is $213.03. The stock has a market cap of $12.07 billion, a P/E ratio of 29.23, a P/E/G ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 12 month low of $153.77 and a 12 month high of $331.64.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data 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 net margin of 10.54% and a return on equity of 13.84%. Equities analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Leerink Partnrs raised Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Jefferies Financial Group dropped their price objective on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and upped their target price for the company from $235.00 to $280.00 in a research note on Monday, January 6th. Mizuho dropped their price target on shares of 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, 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 research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Align Technology presently has an average rating of “Moderate Buy” and an average price target of $262.64.

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.