Aviva PLC Has $9.60 Million Position in Align Technology, Inc. (NASDAQ:ALGN)

Aviva PLC decreased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 35.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,020 shares of the medical equipment provider's stock after selling 24,807 shares during the period. Aviva PLC owned approximately 0.06% of Align Technology worth $9,596,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in Align Technology by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 1,790,014 shares of the medical equipment provider's stock worth $372,299,000 after purchasing an additional 39,209 shares in the last quarter. Ninety One UK Ltd lifted its holdings in shares of Align Technology by 3.7% in the fourth quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider's stock valued at $254,508,000 after purchasing an additional 43,524 shares in the last quarter. Norges Bank acquired a new position in shares of Align Technology during the fourth quarter worth about $190,792,000. Meridiem Investment Management Ltd. grew its holdings in shares of Align Technology by 63.7% during the fourth quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider's stock worth $159,470,000 after buying an additional 297,472 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its position in Align Technology by 6.4% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 753,026 shares of the medical equipment provider's stock valued at $191,510,000 after buying an additional 45,484 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Trading Up 2.0 %

ALGN stock traded up $3.31 during mid-day trading on Monday, hitting $167.45. 203,975 shares of the company were exchanged, compared to its average volume of 864,945. Align Technology, Inc. has a 1-year low of $141.74 and a 1-year high of $327.49. The business has a 50 day simple moving average of $177.26 and a 200-day simple moving average of $207.05. The stock has a market capitalization of $12.26 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued 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%. Equities research analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company started coverage on shares of Align Technology in a research note on Friday, February 14th. They set an "overweight" rating and a $255.00 price target for the company. Leerink Partners upgraded shares of Align Technology from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $235.00 to $280.00 in a research note on Monday, January 6th. Jefferies Financial Group reduced their price objective on shares of Align Technology from $285.00 to $260.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. Morgan Stanley lowered their target price on Align Technology from $280.00 to $272.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Finally, Leerink Partnrs upgraded Align Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $262.64.

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.