Norinchukin Bank The Buys 306 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Norinchukin Bank The grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 10.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,222 shares of the medical equipment provider’s stock after purchasing an additional 306 shares during the period. Norinchukin Bank The’s holdings in Align Technology were worth $672,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of ALGN. Norges Bank bought a new stake in shares of Align Technology during the 4th quarter valued at $190,792,000. Meridiem Investment Management Ltd. grew its holdings in Align Technology by 63.7% in the fourth quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock worth $159,470,000 after purchasing an additional 297,472 shares during the period. Senvest Management LLC increased its stake in shares of Align Technology by 58.1% during the fourth quarter. Senvest Management LLC now owns 726,243 shares of the medical equipment provider’s stock valued at $151,429,000 after purchasing an additional 267,000 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in shares of Align Technology during the fourth quarter valued at approximately $47,853,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Align Technology during the fourth quarter valued at approximately $42,243,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Trading Up 1.0 %

Shares of ALGN opened at $173.87 on Wednesday. The firm has a fifty day simple moving average of $171.42 and a two-hundred day simple moving average of $203.63. The firm has a market cap of $12.73 billion, a PE ratio of 30.99, a P/E/G ratio of 2.24 and a beta of 1.73. Align Technology, Inc. has a 1-year low of $141.74 and a 1-year high of $327.49.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 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%. As a group, research analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on ALGN. Jefferies Financial Group reduced their price objective on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Morgan Stanley reduced their price target on Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $235.00 to $280.00 in a research report on Monday, January 6th. Evercore ISI upped their target price on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company started coverage on shares of Align Technology in a report on Friday, February 14th. They issued an “overweight” rating and a $255.00 price objective for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $256.90.

Align Technology 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.