Achmea Investment Management B.V. Sells 2,128 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Achmea Investment Management B.V. lowered its stake in Align Technology, Inc. (NASDAQ:ALGN) by 20.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,355 shares of the medical equipment provider’s stock after selling 2,128 shares during the quarter. Achmea Investment Management B.V.’s holdings in Align Technology were worth $1,742,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the stock. Wellington Management Group LLP increased its stake in shares of 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 acquiring an additional 866,663 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Align Technology by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock valued at $443,810,000 after acquiring an additional 21,605 shares in the last quarter. FMR LLC increased its stake in Align Technology by 43.0% during 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 in the last quarter. Ninety One UK Ltd increased its stake in Align Technology by 3.7% during the 4th quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider’s stock valued at $254,508,000 after purchasing an additional 43,524 shares in the last quarter. Finally, Meridiem Investment Management Ltd. increased its stake in 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 purchasing an additional 297,472 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

Shares of NASDAQ:ALGN opened at $166.20 on Friday. The company’s 50-day moving average is $203.61 and its 200 day moving average is $218.99. The company has a market capitalization of $12.23 billion, a P/E ratio of 29.63, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a fifty-two week low of $158.13 and a fifty-two week high of $335.40.

Align Technology (NASDAQ:ALGN) last issued 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, research analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on ALGN. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Jefferies Financial Group decreased their price target 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 upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Bank of America boosted their price target on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Finally, Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $235.00 to $280.00 in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $269.91.

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.