Victory Capital Management Inc. Buys 29,066 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Victory Capital Management Inc. grew its stake in Align Technology, Inc. (NASDAQ:ALGN) by 21.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,102 shares of the medical equipment provider’s stock after acquiring an additional 29,066 shares during the period. Victory Capital Management Inc. owned 0.22% of Align Technology worth $34,008,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Baker Avenue Asset Management LP bought a new position in Align Technology during the third quarter worth about $4,250,000. Swedbank AB grew its holdings in Align Technology by 30.1% during the third quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock worth $98,960,000 after purchasing an additional 90,000 shares during the period. KBC Group NV grew its holdings 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 worth $13,595,000 after purchasing an additional 5,663 shares during the period. Nordea Investment Management AB grew its holdings 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 worth $56,870,000 after purchasing an additional 9,139 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings 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 worth $35,368,000 after purchasing an additional 92,407 shares during the period. Institutional investors own 88.43% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ALGN. Mizuho began coverage on Align Technology in a report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price target for the company. Wells Fargo & Company assumed coverage on Align Technology in a report on Friday, February 14th. They set an “overweight” rating and a $255.00 price target for the company. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Morgan Stanley cut their price objective 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. Finally, Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $269.91.

Align Technology Trading Up 1.0 %

NASDAQ ALGN opened at $173.75 on Monday. Align Technology, Inc. has a 1-year low of $167.32 and a 1-year high of $335.40. The company has a 50 day moving average of $208.02 and a 200-day moving average of $221.19. The company has a market cap of $12.79 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share 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%. On average, equities research analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current year.

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.