Achmea Investment Management B.V. Reduces Position in Align Technology, Inc. (NASDAQ:ALGN)

Achmea Investment Management B.V. cut its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 20.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,355 shares of the medical equipment provider’s stock after selling 2,128 shares during the quarter. Achmea Investment Management B.V.’s holdings in Align Technology were worth $1,742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ALGN. True Wealth Design LLC lifted its holdings in 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 valued at $27,000 after purchasing an additional 107 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Align Technology during the third quarter valued at about $32,000. Private Trust Co. NA increased its position in shares of Align Technology by 113.4% during the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 93 shares during the period. Versant Capital Management Inc increased its position in shares of Align Technology by 212.2% during the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after buying an additional 157 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Align Technology during the fourth quarter valued at about $52,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group decreased their price target on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Bank of America upped their price target on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Evercore ISI upped their price target on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. Finally, Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. One equities research 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 company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $269.91.

Align Technology Price Performance

Shares of ALGN opened at $166.20 on Friday. The firm has a market cap of $12.23 billion, a P/E ratio of 29.63, a P/E/G ratio of 2.24 and a beta of 1.69. The stock has a 50 day simple moving average of $203.61 and a two-hundred day simple moving average of $218.99. Align Technology, Inc. has a 1 year low of $158.13 and a 1 year high of $335.40.

Align Technology (NASDAQ:ALGN) last issued 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%. On average, equities analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Align Technology 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.