ING Groep NV Grows Stake in Align Technology, Inc. (NASDAQ:ALGN)

ING Groep NV raised its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 201.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,391 shares of the medical equipment provider's stock after acquiring an additional 18,970 shares during the quarter. ING Groep NV's holdings in Align Technology were worth $7,220,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. grew its position in Align Technology by 854.5% during the second quarter. Cullen Frost Bankers Inc. now owns 105 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 94 shares during the period. Innealta Capital LLC bought a new position in Align Technology in the 2nd quarter worth $26,000. Rothschild Investment LLC bought a new position in Align Technology in the 2nd quarter worth $26,000. Versant Capital Management Inc lifted its position in Align Technology by 547.1% during the second quarter. Versant Capital Management Inc now owns 110 shares of the medical equipment provider's stock valued at $27,000 after purchasing an additional 93 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in Align Technology during the first quarter valued at about $29,000. 88.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ALGN shares. Piper Sandler lowered their price objective on Align Technology from $285.00 to $275.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. StockNews.com raised shares of Align Technology from a "hold" rating to a "buy" rating in a report on Thursday, September 19th. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research report on Monday, November 4th. Stifel Nicolaus lowered their target price on shares of Align Technology from $285.00 to $275.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Finally, Morgan Stanley decreased their price target on Align Technology from $310.00 to $280.00 and set an "overweight" rating on the stock in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Align Technology has a consensus rating of "Hold" and an average target price of $276.38.

Align Technology Price Performance

Shares of NASDAQ ALGN traded up $2.05 during midday trading on Friday, reaching $223.69. 1,074,011 shares of the stock traded hands, compared to its average volume of 785,433. The company's 50 day moving average is $228.85 and its 200 day moving average is $240.23. Align Technology, Inc. has a one year low of $196.09 and a one year high of $335.40. The stock has a market capitalization of $16.70 billion, a PE ratio of 38.17, a P/E/G ratio of 5.57 and a beta of 1.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.31 by $0.04. The business had revenue of $977.87 million during the quarter, compared to analyst estimates of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. Align Technology's quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.62 earnings per share. As a group, equities analysts forecast that Align Technology, Inc. will post 7.45 EPS for the current year.

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.