Russell Investments Group Ltd. Has $26.64 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Russell Investments Group Ltd. increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 68.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 81,250 shares of the medical equipment provider’s stock after acquiring an additional 32,890 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of Align Technology worth $26,644,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. QRG Capital Management Inc. raised its position in Align Technology by 32.1% in the 1st quarter. QRG Capital Management Inc. now owns 4,291 shares of the medical equipment provider’s stock valued at $1,407,000 after buying an additional 1,043 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Align Technology by 0.4% during the 1st quarter. Sei Investments Co. now owns 131,835 shares of the medical equipment provider’s stock worth $43,233,000 after acquiring an additional 556 shares during the last quarter. Atomi Financial Group Inc. boosted its stake in Align Technology by 11.1% in the 1st quarter. Atomi Financial Group Inc. now owns 1,609 shares of the medical equipment provider’s stock valued at $528,000 after purchasing an additional 161 shares during the period. Tectonic Advisors LLC bought a new stake in Align Technology in the 1st quarter valued at $253,000. Finally, Forsta AP Fonden boosted its stake in Align Technology by 10.4% in the 1st quarter. Forsta AP Fonden now owns 14,800 shares of the medical equipment provider’s stock valued at $4,853,000 after purchasing an additional 1,400 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ALGN shares. Evercore ISI reduced their price target on Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, June 10th. UBS Group upped their target price on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Piper Sandler reiterated an “overweight” rating and set a $330.00 target price on shares of Align Technology in a research report on Wednesday, July 10th. OTR Global reissued a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Finally, Morgan Stanley boosted their price target on Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Align Technology presently has an average rating of “Moderate Buy” and an average price target of $346.50.

Align Technology Trading Up 1.4 %

ALGN traded up $3.55 on Wednesday, reaching $251.09. The stock had a trading volume of 268,200 shares, compared to its average volume of 759,002. The firm has a 50-day moving average of $254.19 and a 200-day moving average of $282.09. The company has a market capitalization of $18.90 billion, a price-to-earnings ratio of 40.78, a price-to-earnings-growth ratio of 4.43 and a beta of 1.66. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $413.20.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. The company had revenue of $997.43 million for the quarter, compared to analyst estimates of $971.97 million. Sell-side analysts anticipate that Align Technology, Inc. will post 7.89 EPS for the current fiscal year.

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.