Align Technology, Inc. $ALGN Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in Align Technology, Inc. (NASDAQ:ALGN) by 42.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 360,198 shares of the medical equipment provider’s stock after selling 265,628 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.50% of Align Technology worth $60,751,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sequoia Financial Advisors LLC grew its stake in Align Technology by 320.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,986 shares of the medical equipment provider’s stock worth $1,247,000 after buying an additional 6,085 shares during the last quarter. K.J. Harrison & Partners Inc purchased a new stake in Align Technology in the second quarter valued at approximately $1,872,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Align Technology by 35,513.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 545,604 shares of the medical equipment provider’s stock valued at $85,196,000 after acquiring an additional 544,072 shares during the period. Maridea Wealth Management LLC purchased a new position in shares of Align Technology during the second quarter worth approximately $1,659,000. Finally, Pallas Capital Advisors LLC purchased a new position in shares of Align Technology during the second quarter worth approximately $1,128,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Up 2.7%

NASDAQ ALGN opened at $159.15 on Thursday. The stock has a market capitalization of $11.40 billion, a P/E ratio of 27.68, a P/E/G ratio of 1.65 and a beta of 1.65. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $200.43. The firm has a 50-day moving average price of $172.23 and a 200 day moving average price of $174.30.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.02. Align Technology had a return on equity of 15.86% and a net margin of 9.99%.The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the company earned $2.49 EPS. The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities research analysts expect that Align Technology, Inc. will post 9.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Wall Street Zen downgraded shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. UBS Group restated a “neutral” rating and issued a $189.00 price objective on shares of Align Technology in a research note on Thursday, July 23rd. BMO Capital Markets initiated coverage on shares of Align Technology in a report on Wednesday, July 8th. They issued an “outperform” rating and a $209.00 target price for the company. Zacks Research downgraded shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.36.

Align Technology Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.