Navera Investment Management Ltd. Sells 785,194 Shares of Align Technology, Inc. $ALGN

Navera Investment Management Ltd. cut its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 99.7% during the third quarter, Holdings Channel.com reports. The fund owned 2,365 shares of the medical equipment provider’s stock after selling 785,194 shares during the period. Navera Investment Management Ltd.’s holdings in Align Technology were worth $296,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in ALGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Align Technology by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock worth $1,624,000 after buying an additional 469 shares during the period. Focus Partners Wealth increased its holdings in shares of Align Technology by 5.2% in the first quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock worth $486,000 after acquiring an additional 151 shares in the last quarter. Strs Ohio acquired a new stake in shares of Align Technology during the first quarter worth about $794,000. Parallel Advisors LLC lifted its holdings in shares of Align Technology by 66.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,044 shares of the medical equipment provider’s stock valued at $198,000 after purchasing an additional 415 shares in the last quarter. Finally, Czech National Bank lifted its holdings in shares of Align Technology by 3.3% during the 2nd quarter. Czech National Bank now owns 16,654 shares of the medical equipment provider’s stock valued at $3,153,000 after purchasing an additional 537 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Stifel Nicolaus set a $200.00 target price on Align Technology in a research note on Thursday, October 30th. Morgan Stanley raised their price objective on shares of Align Technology from $142.00 to $154.00 and gave the stock an “equal weight” rating in a report on Thursday, October 30th. UBS Group cut their price objective on shares of Align Technology from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th. HSBC increased their target price on Align Technology from $140.00 to $150.00 in a report on Friday, October 31st. Finally, Mizuho reduced their price objective on Align Technology from $210.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, October 13th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, Align Technology has an average rating of “Hold” and a consensus price target of $172.18.

Align Technology Trading Up 0.0%

NASDAQ ALGN opened at $171.49 on Friday. The company has a market cap of $12.30 billion, a PE ratio of 33.23, a PEG ratio of 1.94 and a beta of 1.83. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $237.23. The stock has a 50 day moving average of $155.08 and a 200-day moving average of $151.38.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.23. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The firm had revenue of $995.69 million during the quarter, compared to analysts’ expectations of $980.75 million. During the same quarter last year, the company posted $2.35 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, sell-side analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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.