Andra AP fonden Lowers Position in Align Technology, Inc. (NASDAQ:ALGN)

Andra AP fonden lessened its stake in Align Technology, Inc. (NASDAQ:ALGN) by 93.0% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,900 shares of the medical equipment provider’s stock after selling 38,600 shares during the quarter. Andra AP fonden’s holdings in Align Technology were worth $605,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Baker Avenue Asset Management LP purchased a new position in shares of Align Technology in the third quarter worth $4,250,000. Swedbank AB raised its stake in Align Technology by 30.1% during the third quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock valued at $98,960,000 after purchasing an additional 90,000 shares in the last quarter. KBC Group NV raised its stake in Align Technology by 11.8% during the third quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock valued at $13,595,000 after purchasing an additional 5,663 shares in the last quarter. Nordea Investment Management AB raised its stake in Align Technology by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock valued at $56,870,000 after purchasing an additional 9,139 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Align Technology by 119.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider’s stock valued at $35,368,000 after purchasing an additional 92,407 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

ALGN stock opened at $173.75 on Monday. The company has a market capitalization of $12.79 billion, a PE ratio of 30.97, a P/E/G ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 12 month low of $167.32 and a 12 month high of $335.40. The firm’s 50-day moving average is $208.02 and its 200 day moving average is $221.19.

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

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and upped their price target for the company from $235.00 to $280.00 in a research note on Monday, January 6th. Jefferies Financial Group decreased their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Mizuho started coverage on shares of Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price target on the stock. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Finally, Bank of America raised their target price on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.91.

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.