ING Groep NV Trims Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

ING Groep NV lessened its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 68.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,963 shares of the medical equipment provider’s stock after selling 19,428 shares during the period. ING Groep NV’s holdings in Align Technology were worth $1,869,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP grew its holdings in shares of Align Technology by 49.0% during the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after purchasing an additional 866,663 shares in the last quarter. Holocene Advisors LP bought a new stake in Align Technology during the third quarter valued at approximately $137,287,000. FMR LLC grew its stake in Align Technology by 43.0% in the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after buying an additional 367,508 shares in the last quarter. Point72 Asset Management L.P. increased its holdings in shares of Align Technology by 96.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock worth $171,493,000 after buying an additional 330,807 shares during the last quarter. Finally, Meridiem Investment Management Ltd. raised its position in shares of Align Technology by 63.7% during the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock valued at $159,470,000 after buying an additional 297,472 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Bank of America upped their price objective on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Evercore ISI raised their price objective on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Piper Sandler cut their target price on Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, Mizuho initiated coverage on shares of Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price target on the stock. One research 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 company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $269.91.

Align Technology Stock Down 3.9 %

NASDAQ:ALGN opened at $190.43 on Monday. The firm has a market capitalization of $14.22 billion, a P/E ratio of 33.94, a P/E/G ratio of 2.33 and a beta of 1.67. The company has a fifty day moving average of $215.05 and a 200 day moving average of $224.43. Align Technology, Inc. has a 52 week low of $186.82 and a 52 week high of $335.40.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data 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 net margin of 10.54% and a return on equity of 13.84%. As a group, analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current year.

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.