Andra AP fonden Lowers Stake in Align Technology, Inc. (NASDAQ:ALGN)

Andra AP fonden reduced its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 93.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,900 shares of the medical equipment provider’s stock after selling 38,600 shares during the period. Andra AP fonden’s holdings in Align Technology were worth $605,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Baker Avenue Asset Management LP purchased a new position in Align Technology in the third quarter worth about $4,250,000. Swedbank AB raised its holdings in Align Technology by 30.1% in the third quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock worth $98,960,000 after buying an additional 90,000 shares during the last quarter. KBC Group NV raised its holdings in Align Technology by 11.8% in the third quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock worth $13,595,000 after buying an additional 5,663 shares during the last quarter. Nordea Investment Management AB raised its holdings in Align Technology by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock worth $56,870,000 after buying an additional 9,139 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Align Technology by 119.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider’s stock worth $35,368,000 after buying an additional 92,407 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Price Performance

ALGN opened at $173.75 on Monday. The firm has a market cap of $12.79 billion, a P/E ratio of 30.97, a PEG ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 1-year low of $167.32 and a 1-year high of $335.40. The company has a 50 day simple moving average of $208.02 and a two-hundred day simple moving average of $221.19.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. Equities analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Evercore ISI boosted their price objective on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley decreased their price objective on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Piper Sandler decreased their price objective on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Finally, Mizuho initiated coverage on shares of Align Technology in a report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $269.91.

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.