Korea Investment CORP Has $2.71 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Korea Investment CORP trimmed its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 51.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,004 shares of the medical equipment provider's stock after selling 14,000 shares during the quarter. Korea Investment CORP's holdings in Align Technology were worth $2,711,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC lifted its holdings in shares of Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider's stock worth $27,000 after acquiring an additional 107 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Align Technology during the 3rd quarter worth approximately $32,000. Picton Mahoney Asset Management lifted its stake in Align Technology by 69.9% in the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock valued at $30,000 after purchasing an additional 58 shares during the last quarter. Private Trust Co. NA boosted its position in Align Technology by 113.4% in the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock valued at $36,000 after buying an additional 93 shares in the last quarter. Finally, Quarry LP boosted its position in Align Technology by 74.8% in the third quarter. Quarry LP now owns 222 shares of the medical equipment provider's stock valued at $56,000 after buying an additional 95 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

ALGN has been the subject of a number of research reports. Morgan Stanley dropped their price target on Align Technology from $280.00 to $272.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company initiated coverage on Align Technology in a research report on Friday, February 14th. They issued an "overweight" rating and a $255.00 target price for the company. Leerink Partnrs upgraded Align Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Needham & Company LLC reiterated a "hold" rating on shares of Align Technology in a report on Thursday, February 6th. Finally, Piper Sandler reiterated an "overweight" rating and set a $235.00 target price (down from $270.00) on shares of Align Technology in a research report on Tuesday, March 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $262.64.

Align Technology Stock Performance

Shares of NASDAQ:ALGN traded down $0.73 during midday trading on Friday, reaching $153.51. The company's stock had a trading volume of 2,165,233 shares, compared to its average volume of 842,686. The firm has a 50 day moving average price of $188.04 and a two-hundred day moving average price of $212.63. Align Technology, Inc. has a fifty-two week low of $143.60 and a fifty-two week high of $331.64. The firm has a market capitalization of $11.24 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 2.24 and a beta of 1.73.

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 the consensus estimate of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. As a group, research analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share 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.