ING Groep NV Has $1.09 Million Stake in Align Technology, Inc. $ALGN

ING Groep NV lifted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 166.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,715 shares of the medical equipment provider’s stock after acquiring an additional 5,450 shares during the quarter. ING Groep NV’s holdings in Align Technology were worth $1,091,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rothschild Investment LLC lifted its stake in shares of Align Technology by 140.3% in the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 87 shares during the last quarter. True Wealth Design LLC grew its position in shares of Align Technology by 7,650.0% in the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 153 shares during the last quarter. Sentry Investment Management LLC increased its stake in shares of Align Technology by 73.1% in the third quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 79 shares during the period. CYBER HORNET ETFs LLC acquired a new position in shares of Align Technology during the 2nd quarter worth about $36,000. Finally, MUFG Securities EMEA plc bought a new stake in Align Technology during the 2nd quarter valued at approximately $38,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ALGN. Stifel Nicolaus upped their price target on Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Evercore ISI increased their price target on shares of Align Technology from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. HSBC raised their price target on shares of Align Technology from $140.00 to $150.00 in a research report on Friday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research report on Thursday, October 30th. Finally, Barclays started coverage on Align Technology in a research report on Monday, December 8th. They set an “equal weight” rating and a $170.00 target price on the stock. Seven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, Align Technology presently has an average rating of “Hold” and an average price target of $195.92.

Align Technology Stock Up 1.6%

Shares of ALGN opened at $186.77 on Friday. The company has a 50-day moving average price of $167.07 and a two-hundred day moving average price of $148.38. The stock has a market cap of $13.40 billion, a price-to-earnings ratio of 33.00, a P/E/G ratio of 2.01 and a beta of 1.84. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $208.65.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.30. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The company’s revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $2.44 EPS. Equities research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Align Technology Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.