Northern Trust Corp Has $153.66 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Northern Trust Corp increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 13.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 736,936 shares of the medical equipment provider’s stock after purchasing an additional 86,493 shares during the period. Northern Trust Corp owned about 0.99% of Align Technology worth $153,659,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Picton Mahoney Asset Management increased its holdings in Align Technology by 69.9% in the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 58 shares during the period. GKV Capital Management Co. Inc. bought a new stake in Align Technology in the fourth quarter valued at about $31,000. Aster Capital Management DIFC Ltd acquired a new position in Align Technology in the fourth quarter worth about $35,000. Private Trust Co. NA lifted its stake 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 worth $36,000 after purchasing an additional 93 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in Align Technology by 212.2% during the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after purchasing an additional 157 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALGN has been the subject of several analyst reports. Piper Sandler restated an “overweight” rating and set a $250.00 target price (up previously from $235.00) on shares of Align Technology in a research report on Thursday. Morgan Stanley reduced their target price on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. UBS Group cut their price target on shares of Align Technology from $240.00 to $215.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. HSBC cut shares of Align Technology from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $290.00 to $170.00 in a research note on Friday, April 25th. Finally, Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $235.00 to $280.00 in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $241.25.

Align Technology Stock Up 1.7 %

Align Technology stock opened at $179.82 on Friday. The business’s 50-day simple moving average is $168.42 and its 200 day simple moving average is $201.12. The stock has a market cap of $13.16 billion, a price-to-earnings ratio of 32.05, a P/E/G ratio of 2.24 and a beta of 1.73. Align Technology, Inc. has a 12-month low of $141.74 and a 12-month high of $295.69.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, April 30th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.13. The company had revenue of $979.26 million for the quarter, compared to analyst estimates of $977.90 million. Align Technology had a net margin of 10.54% and a return on equity of 13.84%. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 EPS. As a group, sell-side analysts expect 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.