Tredje AP fonden Buys 18,423 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Tredje AP fonden lifted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 24.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,198 shares of the medical equipment provider’s stock after acquiring an additional 18,423 shares during the quarter. Tredje AP fonden’s holdings in Align Technology were worth $19,850,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. True Wealth Design LLC raised its position in shares of Align Technology by 10,700.0% during 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 bought a new stake in Align Technology in the third quarter worth approximately $32,000. Private Trust Co. NA increased its holdings 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 worth $36,000 after purchasing an additional 93 shares in the last quarter. Versant Capital Management Inc increased its holdings in Align Technology by 212.2% in the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after purchasing an additional 157 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Align Technology in the fourth quarter worth approximately $52,000. 88.43% of the stock is currently owned by institutional investors.

Align Technology Price Performance

ALGN stock opened at $164.57 on Thursday. The company has a market cap of $12.11 billion, a P/E ratio of 29.34, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 1 year low of $159.56 and a 1 year high of $335.40. The stock’s fifty day moving average price is $205.41 and its 200-day moving average price is $219.86.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS 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, analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Piper Sandler lowered their target price on Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Leerink Partnrs raised Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 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 on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Finally, Evercore ISI lifted their price target on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $269.91.

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.