UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Holdings in Align Technology, Inc. (NASDAQ:ALGN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Align Technology, Inc. (NASDAQ:ALGN) by 1.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 564,664 shares of the medical equipment provider’s stock after selling 9,641 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Align Technology were worth $143,605,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mather Group LLC. grew its stake in shares of Align Technology by 52.5% during the second quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 42 shares during the last quarter. Quarry LP grew its position in Align Technology by 53.0% during the 2nd quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock worth $31,000 after purchasing an additional 44 shares during the last quarter. Crewe Advisors LLC grew its position in Align Technology by 36.8% during the 2nd quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider’s stock worth $41,000 after purchasing an additional 46 shares during the last quarter. Empirical Finance LLC increased its stake in Align Technology by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock valued at $632,000 after purchasing an additional 50 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Align Technology by 0.6% in the second quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider’s stock worth $2,143,000 after buying an additional 54 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Evercore ISI cut their target price on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird cut their price objective on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Morgan Stanley decreased their target price on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Piper Sandler cut their price target on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Finally, Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $276.38.

Align Technology Price Performance

ALGN opened at $232.77 on Monday. The firm has a fifty day moving average price of $226.43 and a 200 day moving average price of $236.00. Align Technology, Inc. has a 1 year low of $196.09 and a 1 year high of $335.40. The stock has a market cap of $17.38 billion, a P/E ratio of 39.72, a P/E/G ratio of 6.03 and a beta of 1.65.

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

About Align Technology

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.