Oddo BHF Asset Management Sas Takes $747,000 Position in Align Technology, Inc. (NASDAQ:ALGN)

Oddo BHF Asset Management Sas purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the 3rd quarter, HoldingsChannel reports. The firm purchased 2,937 shares of the medical equipment provider’s stock, valued at approximately $747,000.

A number of other hedge funds have also added to or reduced their stakes in ALGN. Cullen Frost Bankers Inc. lifted its position in shares of Align Technology by 854.5% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 94 shares during the period. Innealta Capital LLC bought a new position in Align Technology in the second quarter worth about $26,000. Rothschild Investment LLC purchased a new stake in Align Technology in the second quarter worth about $26,000. True Wealth Design LLC boosted its position in Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 107 shares in the last quarter. Finally, University of Texas Texas AM Investment Management Co. purchased a new position in shares of Align Technology during the 2nd quarter worth approximately $31,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ALGN. Evercore ISI lowered their target price on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Morgan Stanley lowered their price objective on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Robert W. Baird reduced their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. Finally, Mizuho initiated coverage on shares of Align Technology in a report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Align Technology has a consensus rating of “Hold” and a consensus price target of $271.20.

Align Technology Stock Down 0.1 %

Shares of ALGN opened at $235.39 on Friday. Align Technology, Inc. has a twelve month low of $196.09 and a twelve month high of $335.40. The company has a market capitalization of $17.57 billion, a P/E ratio of 40.17, a price-to-earnings-growth ratio of 6.20 and a beta of 1.66. The firm has a 50 day moving average of $224.11 and a 200 day moving average of $234.30.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.04. The firm had revenue of $977.87 million during the quarter, compared to analysts’ expectations of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.62 earnings per share. On average, sell-side analysts expect that Align Technology, Inc. will post 7.45 EPS 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.