Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB grew its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 273,664 shares of the medical equipment provider's stock after acquiring an additional 9,139 shares during the quarter. Nordea Investment Management AB owned about 0.37% of Align Technology worth $56,870,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. National Bank of Canada FI grew its position in Align Technology by 12.0% in the second quarter. National Bank of Canada FI now owns 32,488 shares of the medical equipment provider's stock worth $7,748,000 after acquiring an additional 3,488 shares during the period. Victory Capital Management Inc. increased its position in shares of Align Technology by 251.1% during the 2nd quarter. Victory Capital Management Inc. now owns 114,518 shares of the medical equipment provider's stock worth $27,648,000 after purchasing an additional 81,899 shares during the last quarter. Cullen Frost Bankers Inc. raised its holdings in Align Technology by 854.5% in the 2nd 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. Acadian Asset Management LLC acquired a new position in Align Technology in the second quarter valued at about $4,606,000. Finally, Quest Partners LLC boosted its stake in Align Technology by 893.6% during the second quarter. Quest Partners LLC now owns 4,511 shares of the medical equipment provider's stock worth $1,089,000 after buying an additional 4,057 shares during the period. Hedge funds and other institutional investors own 88.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ALGN shares. Stifel Nicolaus reduced their price target 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. Morgan Stanley cut their target price on Align Technology from $310.00 to $280.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Robert W. Baird lowered their price target on Align Technology from $325.00 to $276.00 and set an "outperform" 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 report on Thursday, September 19th. Finally, Mizuho started coverage on Align Technology in a report on Wednesday, December 4th. They set an "outperform" rating and a $295.00 target price for the company. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $268.20.

Align Technology Price Performance

Shares of ALGN stock traded down $2.19 during trading hours on Wednesday, reaching $215.37. 729,033 shares of the stock were exchanged, compared to its average volume of 649,965. The firm has a market capitalization of $16.08 billion, a P/E ratio of 36.75, a P/E/G ratio of 6.20 and a beta of 1.67. The business's fifty day moving average is $221.89 and its two-hundred day moving average is $229.46. 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 posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.31 by $0.04. The company had revenue of $977.87 million for the quarter, compared to analysts' expectations of $990.05 million. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. Align Technology's quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm earned $1.62 earnings per share. As a group, equities research analysts predict that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal 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.