Align Technology, Inc. (NASDAQ:ALGN) Stock Holdings Boosted by National Bank of Canada FI

National Bank of Canada FI lifted its position in Align Technology, Inc. (NASDAQ:ALGN) by 10.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 45,016 shares of the medical equipment provider’s stock after buying an additional 4,190 shares during the period. National Bank of Canada FI owned approximately 0.06% of Align Technology worth $9,386,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in Align Technology during the fourth quarter worth approximately $190,792,000. Wellington Management Group LLP lifted its position in shares of Align Technology by 49.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after acquiring an additional 866,663 shares during the last quarter. Meridiem Investment Management Ltd. boosted its stake in shares of Align Technology by 63.7% during the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock worth $159,470,000 after acquiring an additional 297,472 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Align Technology in the 4th quarter worth $42,243,000. Finally, Amundi raised its position in shares of Align Technology by 77.6% during the fourth quarter. Amundi now owns 360,813 shares of the medical equipment provider’s stock worth $77,708,000 after purchasing an additional 157,654 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ALGN shares. Morgan Stanley decreased their price target on Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Jefferies Financial Group decreased their price objective on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Finally, Evercore ISI raised their target price on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $262.64.

Align Technology Price Performance

Shares of ALGN stock opened at $153.51 on Friday. Align Technology, Inc. has a fifty-two week low of $143.00 and a fifty-two week high of $331.64. The stock’s 50-day moving average is $186.45 and its two-hundred day moving average is $211.67. The firm has a market cap of $11.24 billion, a P/E ratio of 27.36, a PEG ratio of 2.24 and a beta of 1.73.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing the consensus estimate 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, research 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.