Allianz SE Invests $380,000 in Align Technology, Inc. (NASDAQ:ALGN)

Allianz SE acquired a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,839 shares of the medical equipment provider’s stock, valued at approximately $380,000.

Other large investors also recently bought and sold shares of the company. Algert Global LLC increased its holdings in shares of Align Technology by 46.7% in the 3rd quarter. Algert Global LLC now owns 2,022 shares of the medical equipment provider’s stock valued at $514,000 after acquiring an additional 644 shares during the period. The Manufacturers Life Insurance Company grew its position in Align Technology by 0.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 74,354 shares of the medical equipment provider’s stock worth $18,910,000 after purchasing an additional 255 shares during the last quarter. FMR LLC grew its stake in Align Technology by 43.0% during the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock valued at $310,736,000 after purchasing an additional 367,508 shares during the last quarter. D.A. Davidson & CO. increased its holdings in Align Technology by 11.0% in the 3rd quarter. D.A. Davidson & CO. now owns 7,336 shares of the medical equipment provider’s stock worth $1,866,000 after buying an additional 725 shares during the period. Finally, Public Sector Pension Investment Board increased its stake in shares of Align Technology by 11.8% in the third quarter. Public Sector Pension Investment Board now owns 2,839 shares of the medical equipment provider’s stock worth $722,000 after acquiring an additional 300 shares during the period. Institutional investors own 88.43% of the company’s stock.

Align Technology Trading Down 3.1 %

Align Technology stock opened at $159.21 on Monday. The firm has a market capitalization of $11.72 billion, a P/E ratio of 28.38, a P/E/G ratio of 2.24 and a beta of 1.69. The stock’s fifty day simple moving average is $193.72 and its 200-day simple moving average is $214.48. Align Technology, Inc. has a twelve month low of $157.57 and a twelve month high of $331.64.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. Sell-side analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ALGN shares. Morgan Stanley decreased their target price on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Bank of America lifted their price objective on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Wells Fargo & Company began coverage on Align Technology in a report on Friday, February 14th. They issued an “overweight” rating and a $255.00 price objective on the stock. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Finally, Mizuho dropped their price objective on shares of Align Technology from $295.00 to $250.00 and set an “outperform” rating for the company in a research note on Tuesday, March 25th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $262.64.

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.