Allianz SE Takes Position in Align Technology, Inc. (NASDAQ:ALGN)

Allianz SE bought a new position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,839 shares of the medical equipment provider's stock, valued at approximately $380,000.

Several other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB boosted its stake in Align Technology by 3.5% in the 4th 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 period. Allspring Global Investments Holdings LLC grew its holdings in shares of 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 valued at $35,368,000 after buying an additional 92,407 shares in the last quarter. National Bank of Canada FI grew its holdings in shares of Align Technology by 25.7% during the third quarter. National Bank of Canada FI now owns 40,826 shares of the medical equipment provider's stock valued at $10,383,000 after buying an additional 8,338 shares in the last quarter. Swedbank AB raised its position in Align Technology by 25.0% during the fourth quarter. Swedbank AB now owns 486,267 shares of the medical equipment provider's stock valued at $101,392,000 after buying an additional 97,152 shares during the period. Finally, Principal Securities Inc. grew its stake in Align Technology by 34.5% during the 4th quarter. Principal Securities Inc. now owns 1,881 shares of the medical equipment provider's stock valued at $392,000 after acquiring an additional 483 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Remove Ads

Align Technology Stock Performance

Shares of NASDAQ:ALGN traded down $2.79 during midday trading on Friday, hitting $151.45. The company's stock had a trading volume of 627,448 shares, compared to its average volume of 836,899. The stock's 50 day simple moving average is $188.04 and its 200 day simple moving average is $212.63. The stock has a market capitalization of $11.15 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a fifty-two week low of $143.60 and a fifty-two week high of $331.64.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts' consensus estimates 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 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ALGN shares. Morgan Stanley dropped their price objective 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. Evercore ISI upped their price target on shares of Align Technology from $240.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Wells Fargo & Company initiated coverage on Align Technology in a report on Friday, February 14th. They set an "overweight" rating and a $255.00 price objective for the company. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research note on Thursday, February 6th. Finally, Leerink Partnrs raised Align Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Align Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $262.64.

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.