Align Technology, Inc. (NASDAQ:ALGN) Shares Bought by Tredje AP fonden

Tredje AP fonden lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 24.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 95,198 shares of the medical equipment provider's stock after buying an additional 18,423 shares during the quarter. Tredje AP fonden owned approximately 0.13% of Align Technology worth $19,850,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ALGN. Wellington Management Group LLP raised its stake in Align Technology by 49.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider's stock valued at $670,031,000 after purchasing an additional 866,663 shares during the last quarter. Holocene Advisors LP acquired a new position in Align Technology in the 3rd quarter valued at about $137,287,000. FMR LLC raised its stake 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 purchasing an additional 367,508 shares during the last quarter. Point72 Asset Management L.P. raised its stake in Align Technology by 96.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider's stock valued at $171,493,000 after purchasing an additional 330,807 shares during the last quarter. Finally, Meridiem Investment Management Ltd. increased its stake in shares of Align Technology by 63.7% during the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider's stock valued at $159,470,000 after acquiring an additional 297,472 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company's stock.

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Wall Street Analyst Weigh In

A number of research analysts have recently commented on ALGN shares. Jefferies Financial Group dropped 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. Leerink Partnrs raised shares of Align Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a research note on Thursday, February 6th. 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 objective for the company. Finally, Evercore ISI upped their price objective on shares of Align Technology from $240.00 to $260.00 and gave the company an "outperform" rating in a research note on Thursday, February 6th. One investment 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 company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $269.91.

Align Technology Stock Performance

Shares of NASDAQ:ALGN traded up $5.69 during trading on Friday, reaching $166.20. 1,300,512 shares of the stock were exchanged, compared to its average volume of 786,672. The firm has a market cap of $12.23 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 12-month low of $158.13 and a 12-month high of $335.40. The firm's 50-day moving average price is $203.61 and its 200 day moving average price is $218.87.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts' consensus estimates 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, equities research analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

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.