ING Groep NV Has $5.34 Million Stake in Align Technology, Inc. $ALGN

ING Groep NV increased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 292.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,224 shares of the medical equipment provider’s stock after buying an additional 25,509 shares during the quarter. ING Groep NV’s holdings in Align Technology were worth $5,344,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of ALGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Align Technology by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock worth $1,624,000 after buying an additional 469 shares in the last quarter. Focus Partners Wealth grew its holdings in Align Technology by 5.2% during the first quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock worth $486,000 after buying an additional 151 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Align Technology during the second quarter worth $204,000. EverSource Wealth Advisors LLC grew its holdings in Align Technology by 55.7% during the second quarter. EverSource Wealth Advisors LLC now owns 531 shares of the medical equipment provider’s stock worth $101,000 after buying an additional 190 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in Align Technology by 201.7% during the second quarter. First Trust Advisors LP now owns 88,270 shares of the medical equipment provider’s stock worth $16,712,000 after buying an additional 59,010 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Trading Up 2.6%

ALGN stock opened at $172.05 on Tuesday. The stock’s fifty day simple moving average is $172.52 and its two-hundred day simple moving average is $169.76. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30. The stock has a market cap of $12.32 billion, a P/E ratio of 28.87, a P/E/G ratio of 1.72 and a beta of 1.68.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, April 29th. The medical equipment provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.32. Align Technology had a return on equity of 15.82% and a net margin of 10.50%.The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the firm earned $2.13 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. As a group, analysts forecast that Align Technology, Inc. will post 9.48 earnings per share for the current fiscal year.

Align Technology declared that its Board of Directors has approved a share repurchase plan on Wednesday, April 29th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the medical equipment provider to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALGN. Leerink Partners upped their price target on Align Technology from $225.00 to $230.00 in a report on Thursday, April 30th. Citigroup began coverage on Align Technology in a report on Wednesday, April 15th. They set a “buy” rating and a $240.00 price target for the company. Wall Street Zen upgraded Align Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 7th. Barclays upgraded Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 price target for the company in a report on Tuesday, March 17th. Finally, Weiss Ratings downgraded Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Align Technology currently has an average rating of “Moderate Buy” and a consensus target price of $205.85.

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.