Align Technology, Inc. (NASDAQ:ALGN) Shares Acquired by Invesco Ltd.

Invesco Ltd. boosted its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 17.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,082,162 shares of the medical equipment provider's stock after purchasing an additional 158,312 shares during the quarter. Invesco Ltd. owned about 1.45% of Align Technology worth $225,642,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ALGN. Nordea Investment Management AB lifted its stake in Align Technology by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider's stock worth $56,870,000 after purchasing an additional 9,139 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Align Technology by 119.6% during 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 acquiring an additional 92,407 shares in the last quarter. Swedbank AB lifted its holdings in shares of Align Technology by 25.0% in the fourth quarter. Swedbank AB now owns 486,267 shares of the medical equipment provider's stock worth $101,392,000 after acquiring an additional 97,152 shares during the last quarter. Principal Securities Inc. boosted its stake in shares of Align Technology by 34.5% in the 4th quarter. Principal Securities Inc. now owns 1,881 shares of the medical equipment provider's stock valued at $392,000 after purchasing an additional 483 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Align Technology by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider's stock worth $1,626,000 after purchasing an additional 91 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Trading Up 1.7 %

Shares of ALGN stock traded up $2.87 during trading hours on Thursday, hitting $170.05. The company's stock had a trading volume of 188,358 shares, compared to its average volume of 870,483. The company has a 50 day moving average of $174.30 and a 200 day moving average of $205.86. Align Technology, Inc. has a 12-month low of $141.74 and a 12-month high of $327.49. The stock has a market cap of $12.45 billion, a PE ratio of 30.23, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings results 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, analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ALGN. Morgan Stanley decreased their target price on shares of Align Technology from $280.00 to $272.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. Jefferies Financial Group dropped their price objective on shares of Align Technology from $285.00 to $260.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Piper Sandler reissued an "overweight" rating and issued a $235.00 price objective (down previously from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. Leerink Partnrs raised Align Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $256.90.

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.