DekaBank Deutsche Girozentrale Has $3.64 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

DekaBank Deutsche Girozentrale cut its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,424 shares of the medical equipment provider’s stock after selling 832 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Align Technology were worth $3,642,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of ALGN. Cullen Frost Bankers Inc. lifted its position in Align Technology by 854.5% during the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 94 shares during the last quarter. Innealta Capital LLC acquired a new stake in Align Technology during the second quarter worth approximately $26,000. Rothschild Investment LLC acquired a new stake in Align Technology during the second quarter worth approximately $26,000. Versant Capital Management Inc raised its position in shares of Align Technology by 547.1% in the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 93 shares in the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Align Technology in the first quarter valued at approximately $29,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Price Performance

Shares of ALGN opened at $205.03 on Friday. Align Technology, Inc. has a one year low of $178.52 and a one year high of $335.40. The company has a market cap of $15.32 billion, a P/E ratio of 34.99, a P/E/G ratio of 5.33 and a beta of 1.64. The firm has a 50 day simple moving average of $231.55 and a two-hundred day simple moving average of $246.87.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. The firm had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. Align Technology had a net margin of 11.34% and a return on equity of 14.07%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.62 earnings per share. On average, analysts expect that Align Technology, Inc. will post 7.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director C Raymond Larkin, Jr. bought 6,500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the purchase, the director now owns 28,247 shares in the company, valued at $6,647,366.51. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.62% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ALGN shares. Piper Sandler dropped their price target on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Evercore ISI dropped their price target on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Stifel Nicolaus dropped their price target on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research report on Thursday, October 24th. Finally, Morgan Stanley dropped their price target on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $276.38.

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.