KBC Group NV Trims Stake in Align Technology, Inc. (NASDAQ:ALGN)

KBC Group NV reduced its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 9.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,342 shares of the medical equipment provider's stock after selling 5,116 shares during the quarter. KBC Group NV owned approximately 0.06% of Align Technology worth $10,080,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ALGN. Baker Avenue Asset Management LP purchased a new position in Align Technology in the third quarter worth $4,250,000. Swedbank AB raised its position 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 acquiring an additional 90,000 shares during the period. Nordea Investment Management AB boosted its stake 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 valued at $56,870,000 after acquiring an additional 9,139 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Align Technology by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider's stock valued at $26,900,000 after acquiring an additional 2,717 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of Align Technology by 25.7% during the 3rd quarter. National Bank of Canada FI now owns 40,826 shares of the medical equipment provider's stock worth $10,383,000 after purchasing an additional 8,338 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ALGN. Jefferies Financial Group decreased their target price on Align Technology from $285.00 to $260.00 and set a "buy" rating for the company in a research report on Thursday, January 23rd. Morgan Stanley decreased their price objective on Align Technology from $310.00 to $280.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Leerink Partners raised shares of Align Technology from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $235.00 to $280.00 in a report on Monday, January 6th. Stifel Nicolaus reduced their target price on shares of Align Technology from $285.00 to $275.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. Finally, Leerink Partnrs raised shares of Align Technology from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Align Technology presently has an average rating of "Moderate Buy" and a consensus target price of $267.45.

Align Technology Price Performance

NASDAQ ALGN traded up $3.48 during trading on Thursday, reaching $227.93. The company's stock had a trading volume of 525,928 shares, compared to its average volume of 585,693. The stock has a market capitalization of $17.01 billion, a PE ratio of 39.04, a P/E/G ratio of 5.14 and a beta of 1.67. The firm has a fifty day moving average of $223.14 and a 200 day moving average of $227.20. Align Technology, Inc. has a one year low of $196.09 and a one year high of $335.40.

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.