Universal Beteiligungs und Servicegesellschaft mbH Sells 8,672 Shares of Align Technology, Inc. $ALGN

Universal Beteiligungs und Servicegesellschaft mbH decreased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 7.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 115,531 shares of the medical equipment provider’s stock after selling 8,672 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Align Technology were worth $18,125,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Align Technology by 0.7% during the third quarter. Vanguard Group Inc. now owns 8,301,611 shares of the medical equipment provider’s stock worth $1,039,528,000 after purchasing an additional 58,546 shares during the period. Capital International Investors lifted its stake in Align Technology by 88.6% during the third quarter. Capital International Investors now owns 3,050,373 shares of the medical equipment provider’s stock worth $381,968,000 after purchasing an additional 1,433,393 shares during the period. Ninety One UK Ltd lifted its stake in Align Technology by 18.3% during the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock worth $283,898,000 after purchasing an additional 350,883 shares during the period. Invesco Ltd. lifted its stake in Align Technology by 37.4% during the third quarter. Invesco Ltd. now owns 1,497,535 shares of the medical equipment provider’s stock worth $187,521,000 after purchasing an additional 407,559 shares during the period. Finally, Holocene Advisors LP bought a new position in Align Technology during the third quarter worth about $179,035,000. Institutional investors own 88.43% of the company’s stock.

Insider Activity

In other news, EVP John Morici sold 7,969 shares of Align Technology stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total value of $1,508,611.39. Following the completion of the transaction, the executive vice president owned 8,237 shares in the company, valued at approximately $1,559,346.47. The trade was a 49.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.75% of the company’s stock.

Align Technology Trading Down 0.6%

NASDAQ:ALGN opened at $189.61 on Friday. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $208.30. The firm has a 50 day moving average of $179.78 and a 200-day moving average of $162.64. The stock has a market capitalization of $13.58 billion, a P/E ratio of 33.50, a price-to-earnings-growth ratio of 2.07 and a beta of 1.81.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.30. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company posted $2.44 earnings per share. Align Technology’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, analysts forecast that Align Technology, Inc. will post 9.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Jefferies Financial Group raised their price target on shares of Align Technology from $155.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday, February 5th. Wells Fargo & Company raised their price target on shares of Align Technology from $181.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Wall Street Zen upgraded shares of Align Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 7th. Piper Sandler raised their price target on shares of Align Technology from $220.00 to $235.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Barclays upgraded shares of Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 price target for the company in a research note on Tuesday, March 17th. Eight analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $203.92.

Align Technology Company 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.