Korea Investment CORP Sells 14,000 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Korea Investment CORP lessened its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 51.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,004 shares of the medical equipment provider’s stock after selling 14,000 shares during the period. Korea Investment CORP’s holdings in Align Technology were worth $2,711,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of ALGN. True Wealth Design LLC raised its holdings in Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 107 shares during the last quarter. Picton Mahoney Asset Management raised its stake in Align Technology by 69.9% during the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 58 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Align Technology in the third quarter valued at $32,000. Private Trust Co. NA boosted its position in Align Technology by 113.4% during the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 93 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Align Technology by 212.2% during the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 157 shares during the period. Institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ALGN shares. Wells Fargo & Company began coverage on Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 target price on the stock. Piper Sandler restated an “overweight” rating and set a $235.00 price target (down from $270.00) on shares of Align Technology in a report on Tuesday, March 18th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Mizuho cut their target price on shares of Align Technology from $295.00 to $250.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 25th. Finally, Bank of America lifted their price target on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Align Technology has an average rating of “Moderate Buy” and an average target price of $262.64.

Align Technology Trading Down 0.5 %

NASDAQ ALGN opened at $158.08 on Wednesday. The business has a fifty day simple moving average of $191.02 and a 200 day simple moving average of $213.38. Align Technology, Inc. has a 12 month low of $153.77 and a 12 month high of $331.64. The firm has a market capitalization of $11.63 billion, a P/E ratio of 28.18, 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%. As a group, sell-side analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal 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.