Assenagon Asset Management S.A. Has $39.41 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

Assenagon Asset Management S.A. raised its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 54.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,022 shares of the medical equipment provider's stock after buying an additional 66,756 shares during the quarter. Assenagon Asset Management S.A. owned 0.25% of Align Technology worth $39,413,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in shares of Align Technology by 13.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 264,524 shares of the medical equipment provider's stock worth $63,873,000 after purchasing an additional 31,948 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its stake in Align Technology by 0.9% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,093 shares of the medical equipment provider's stock worth $2,195,000 after buying an additional 79 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Align Technology by 9.1% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 9,148 shares of the medical equipment provider's stock valued at $2,209,000 after buying an additional 762 shares during the period. Hsbc Holdings PLC raised its position in shares of Align Technology by 15.8% in the 2nd quarter. Hsbc Holdings PLC now owns 164,637 shares of the medical equipment provider's stock valued at $39,809,000 after buying an additional 22,519 shares in the last quarter. Finally, First Eagle Investment Management LLC bought a new stake in shares of Align Technology during the 2nd quarter worth approximately $575,000. Institutional investors own 88.43% of the company's stock.

Analysts Set New Price Targets

ALGN has been the subject of several research analyst reports. Piper Sandler lowered their price objective on shares of Align Technology from $285.00 to $275.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Morgan Stanley dropped their price objective on Align Technology from $310.00 to $280.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. StockNews.com upgraded Align Technology from a "hold" rating to a "buy" rating in a research report on Thursday, September 19th. Leerink Partners raised shares of Align Technology from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Finally, Leerink Partnrs upgraded shares of Align Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Align Technology presently has a consensus rating of "Moderate Buy" and an average target price of $268.20.

Align Technology Stock Up 2.4 %

Shares of ALGN stock traded up $5.32 during trading hours on Friday, hitting $224.23. 670,068 shares of the company's stock traded hands, compared to its average volume of 594,952. The stock has a market cap of $16.74 billion, a PE ratio of 38.26, a price-to-earnings-growth ratio of 4.64 and a beta of 1.67. The stock's 50 day simple moving average is $222.03 and its 200 day simple moving average is $228.37. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.31 by $0.04. The firm had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The business's quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 EPS. As a group, equities research analysts expect that Align Technology, Inc. will post 7.44 EPS for the current fiscal year.

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.