Align Technology, Inc. (NASDAQ:ALGN) Shares Sold by KBC Group NV

KBC Group NV trimmed its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 9.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,342 shares of the medical equipment provider’s stock after selling 5,116 shares during the quarter. KBC Group NV owned about 0.06% of Align Technology worth $10,080,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Public Sector Pension Investment Board boosted its stake in Align Technology by 84.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 2,539 shares of the medical equipment provider’s stock valued at $613,000 after purchasing an additional 1,164 shares in the last quarter. Algert Global LLC bought a new position in Align Technology during the second quarter valued at about $333,000. Northwestern Mutual Wealth Management Co. boosted its stake in Align Technology by 5.6% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,019 shares of the medical equipment provider’s stock valued at $729,000 after buying an additional 161 shares in the last quarter. Quarry LP raised its position in Align Technology by 53.0% in the second quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock worth $31,000 after acquiring an additional 44 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in Align Technology in the 2nd quarter valued at about $926,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Stock Performance

Shares of ALGN opened at $224.45 on Thursday. The company has a market capitalization of $16.76 billion, a PE ratio of 38.30, a PEG ratio of 5.14 and a beta of 1.67. The company’s 50 day moving average price is $223.13 and its 200 day moving average price is $227.22. Align Technology, Inc. has a 52 week low of $196.09 and a 52 week high of $335.40.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on ALGN shares. Mizuho started coverage on shares of Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Morgan Stanley reduced their price objective on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Bank of America boosted their target price on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Finally, Evercore ISI dropped their price target on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $267.45.

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.