Royal London Asset Management Ltd. Buys 1,683 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Royal London Asset Management Ltd. lifted its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 6.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,511 shares of the medical equipment provider's stock after acquiring an additional 1,683 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Align Technology were worth $6,153,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Wellington Management Group LLP grew its holdings in shares of Align Technology by 49.0% during the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider's stock worth $670,031,000 after purchasing an additional 866,663 shares during the last quarter. Holocene Advisors LP bought a new stake in Align Technology during the 3rd quarter worth about $137,287,000. FMR LLC increased its position in Align Technology by 43.0% in the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider's stock valued at $310,736,000 after acquiring an additional 367,508 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Align Technology by 96.3% in the third quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider's stock worth $171,493,000 after acquiring an additional 330,807 shares during the last quarter. Finally, Meridiem Investment Management Ltd. lifted its position 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 purchasing an additional 297,472 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

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Align Technology Price Performance

Shares of NASDAQ ALGN traded down $0.08 during midday trading on Tuesday, reaching $170.29. 295,538 shares of the stock were exchanged, compared to its average volume of 803,447. Align Technology, Inc. has a 12 month low of $158.13 and a 12 month high of $331.64. The company has a market capitalization of $12.53 billion, a price-to-earnings ratio of 30.34, a P/E/G ratio of 2.24 and a beta of 1.69. The business has a 50-day simple moving average of $197.91 and a two-hundred day simple moving average of $216.13.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share 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%. Equities research analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a report on Thursday, February 6th. Wells Fargo & Company started coverage on Align Technology in a research report on Friday, February 14th. They set an "overweight" rating and a $255.00 target price for the company. Morgan Stanley decreased their price target on Align Technology from $280.00 to $272.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Piper Sandler reissued an "overweight" rating and set a $235.00 price objective (down from $270.00) on shares of Align Technology in a report on Tuesday, March 18th. Finally, Leerink Partnrs upgraded shares of Align Technology from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.64.

Align Technology Company 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.