Ninety One SA PTY Ltd Acquires 1,583 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Ninety One SA PTY Ltd boosted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 188.5% during the fourth quarter, Holdings Channel reports. The fund owned 2,423 shares of the medical equipment provider’s stock after purchasing an additional 1,583 shares during the period. Ninety One SA PTY Ltd’s holdings in Align Technology were worth $505,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Algert Global LLC acquired a new stake in shares of Align Technology during the 2nd quarter worth about $333,000. Northwestern Mutual Wealth Management Co. raised its holdings in Align Technology by 5.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,019 shares of the medical equipment provider’s stock valued at $729,000 after acquiring an additional 161 shares during the period. Sanctuary Advisors LLC acquired a new stake in Align Technology during the second quarter worth approximately $926,000. Park Avenue Securities LLC boosted its holdings in shares of Align Technology by 3.4% during the third quarter. Park Avenue Securities LLC now owns 2,640 shares of the medical equipment provider’s stock worth $671,000 after acquiring an additional 88 shares during the period. Finally, Czech National Bank increased its stake in shares of Align Technology by 7.2% during the third quarter. Czech National Bank now owns 14,303 shares of the medical equipment provider’s stock worth $3,638,000 after purchasing an additional 961 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

ALGN has been the subject of several recent research reports. Piper Sandler reduced their price target on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus dropped their target price on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and upped their price target for the company from $235.00 to $280.00 in a research note on Monday, January 6th. Robert W. Baird dropped their price objective on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Jefferies Financial Group decreased their target price on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Align Technology currently has an average rating of “Moderate Buy” and an average price target of $271.70.

Align Technology Trading Down 0.5 %

Shares of NASDAQ:ALGN opened at $214.75 on Wednesday. The firm has a 50 day moving average of $222.45 and a 200-day moving average of $226.48. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40. The stock has a market capitalization of $16.03 billion, a PE ratio of 36.65, a PEG ratio of 4.80 and a beta of 1.67.

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.