Robeco Institutional Asset Management B.V. lowered its stake in shares of Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,479 shares of the medical equipment provider’s stock after selling 8,423 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.08% of Align Technology worth $174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of ALGN. Rhenman & Partners Asset Management AB acquired a new stake in Align Technology in the 3rd quarter worth about $305,000. Ameriprise Financial Inc. grew its stake in shares of Align Technology by 348.9% during the third quarter. Ameriprise Financial Inc. now owns 756,393 shares of the medical equipment provider’s stock worth $230,938,000 after purchasing an additional 587,886 shares in the last quarter. Invesco Ltd. grew its stake in shares of Align Technology by 15.4% during the third quarter. Invesco Ltd. now owns 960,271 shares of the medical equipment provider’s stock worth $293,190,000 after purchasing an additional 128,273 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Align Technology in the third quarter valued at $35,499,000. Finally, DAVENPORT & Co LLC raised its holdings in shares of Align Technology by 5,179.5% in the fourth quarter. DAVENPORT & Co LLC now owns 114,671 shares of the medical equipment provider’s stock valued at $31,576,000 after buying an additional 112,499 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Align Technology
In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the sale, the director now owns 131,994 shares in the company, valued at approximately $40,023,220.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.62% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on ALGN shares. Stifel Nicolaus upped their target price on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Piper Sandler restated an “overweight” rating and set a $375.00 target price (up from $355.00) on shares of Align Technology in a research report on Thursday, April 25th. Morgan Stanley increased their price target on shares of Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. The Goldman Sachs Group increased their price target on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. Finally, Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $353.00.
Read Our Latest Research Report on ALGN
Align Technology Trading Up 1.3 %
ALGN stock opened at $255.62 on Friday. The firm’s 50-day moving average is $299.95 and its two-hundred day moving average is $276.22. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $413.20. The company has a market capitalization of $19.24 billion, a price-to-earnings ratio of 42.11, a price-to-earnings-growth ratio of 4.80 and a beta of 1.66.
Align Technology (NASDAQ:ALGN – Get Free Report) last announced its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. The firm had revenue of $997.43 million for the quarter, compared to the consensus estimate of $971.97 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. On average, equities research analysts predict that Align Technology, Inc. will post 7.92 earnings per share for the current year.
Align Technology Company 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.
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