ING Groep NV Has $7.22 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

ING Groep NV lifted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 201.4% during the third quarter, Holdings Channel.com reports. The firm owned 28,391 shares of the medical equipment provider’s stock after buying an additional 18,970 shares during the period. ING Groep NV’s holdings in Align Technology were worth $7,220,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in Align Technology by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 8,375,147 shares of the medical equipment provider’s stock worth $2,746,378,000 after purchasing an additional 25,362 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Align Technology by 1.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,148,282 shares of the medical equipment provider’s stock valued at $277,230,000 after buying an additional 15,540 shares during the period. Ninety One UK Ltd raised its position in shares of Align Technology by 1.0% during the second quarter. Ninety One UK Ltd now owns 1,147,124 shares of the medical equipment provider’s stock worth $276,950,000 after acquiring an additional 10,919 shares during the last quarter. Bares Capital Management Inc. lifted its stake in shares of Align Technology by 44.4% during the first quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock valued at $268,871,000 after acquiring an additional 252,220 shares during the period. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in Align Technology by 0.5% in the second quarter. Disciplined Growth Investors Inc. MN now owns 707,542 shares of the medical equipment provider’s stock valued at $170,822,000 after acquiring an additional 3,600 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on ALGN. Piper Sandler cut their target price on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. StockNews.com raised shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. Morgan Stanley reduced their price objective on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Stifel Nicolaus dropped their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Evercore ISI reduced their price target on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $276.38.

Align Technology Trading Up 0.9 %

Shares of Align Technology stock opened at $223.69 on Friday. The stock’s fifty day simple moving average is $228.80 and its 200 day simple moving average is $240.79. The company has a market capitalization of $16.70 billion, a PE ratio of 38.17, a PEG ratio of 5.57 and a beta of 1.65. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The business had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. During the same quarter in the previous year, the business posted $1.62 EPS. Align Technology’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts predict that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.

About Align Technology

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.