Swiss National Bank Grows Stake in Align Technology, Inc. (ALGN)

Analog Devices

Swiss National Bank Grows Stake in Align Technology, Inc. (ALGN)

(NASDAQ:ALGN) by 4.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,580 shares of the medical equipment provider's stock after acquiring an additional 3,343 shares during the period.

Investors are feeling more bearish on shares of the company considering the change in short interest. Private Advisor Group LLC lifted its holdings in shares of Align Technology by 45.0% during the 3rd quarter. Oppenheimerfunds, Inc. controls 424,738 shares with a value of $79,116,000. Hsbc Holdings PLC raised its stake in Align Technology by 6.8% in the second quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in Align Technology by 13.0% during the second quarter. Nicholas Investment Partners LP now owns 41,092 shares of the medical equipment provider's stock worth $7,654,000 after acquiring an additional 1,774 shares during the period. Finally, BlueMountain Capital Management LLC bought a new stake in Align Technology during the second quarter worth approximately $148,000.

Several other research analysts have also weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Align Technology from $205.00 to $225.00 and gave the stock a buy rating in a research note on Monday, October 23rd. Robert W. Baird set a $208.00 price target on Align Technology and gave the company a "buy" rating in a research note on Wednesday, October 18th. Robert W. Baird set a $208.00 price objective on Align Technology and gave the stock a "buy" rating in a research note on Wednesday, October 18th. Equity analyst Credit Suisse Group raised the price target on October 27 boosting the projection from $175.00 to $209.00 and issued a "Outperform" rating. On October 19 Stifel Nicolaus kept the stock rating at "Buy" with a current price target of $225.00.

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In other news, CMO Raphael Pascaud sold 5,400 shares of the business's stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $241.88, for a total value of $1,306,152.00. Following the transaction, the chief marketing officer now owns 22,228 shares in the company, valued at approximately $5,376,508.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The shares were sold at an average price of $238.95, for a total transaction of $1,839,915.00. The disclosure for this sale can be found here. Company insiders own 1.60% of the company's stock.

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Shares of Align Technology (ALGN) opened at $253.73 on Friday. The stock has a market capitalization of $20,001.13, a price-to-earnings ratio of 73.81, a PEG ratio of 2.39 and a beta of 1.42.

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Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Thursday, October 26th.

Dimensional Fund Advisors Lp trimmed its ownership by selling 1,075 shares a decrease of 0.3% from 06/30/2017 to 09/30/2017. The firm had revenue of $385.30 million during the quarter, compared to analysts' expectations of $359.80 million. The company's quarterly revenue was up 38.3% compared to the same quarter a year ago. In the latest earnings report the EPS was $3.29 with 80.18M shares presently outstanding.

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

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A number of hedge funds have recently added to or reduced their stakes in ALGN.

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