BI Asset Management Fondsmaeglerselskab A S Invests $464,000 in Align Technology, Inc. (NASDAQ:ALGN)

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 2,226 shares of the medical equipment provider's stock, valued at approximately $464,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Covestor Ltd grew its position in shares of Align Technology by 14.6% in the 4th quarter. Covestor Ltd now owns 415 shares of the medical equipment provider's stock worth $87,000 after buying an additional 53 shares during the last quarter. Picton Mahoney Asset Management lifted its stake in Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock worth $30,000 after acquiring an additional 58 shares during the period. Smartleaf Asset Management LLC boosted its holdings in Align Technology by 9.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 766 shares of the medical equipment provider's stock valued at $158,000 after acquiring an additional 64 shares in the last quarter. Beech Hill Advisors Inc. increased its position in Align Technology by 0.6% during the 4th quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider's stock valued at $2,425,000 after purchasing an additional 65 shares during the period. Finally, New York Life Investment Management LLC raised its holdings in Align Technology by 0.7% in the 4th quarter. New York Life Investment Management LLC now owns 9,406 shares of the medical equipment provider's stock worth $1,961,000 after purchasing an additional 68 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Stock Down 2.5 %

ALGN traded down $4.45 during mid-day trading on Wednesday, reaching $173.30. 2,534,611 shares of the company traded hands, compared to its average volume of 893,236. The stock has a market capitalization of $12.69 billion, a P/E ratio of 30.89, a P/E/G ratio of 2.24 and a beta of 1.73. Align Technology, Inc. has a 52-week low of $141.74 and a 52-week high of $295.69. The company's fifty day moving average price is $168.84 and its 200-day moving average price is $201.70.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate 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, sell-side analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Piper Sandler reissued an "overweight" rating and issued a $235.00 target price (down previously from $270.00) on shares of Align Technology in a research report on Tuesday, March 18th. Jefferies Financial Group lowered their price objective on Align Technology from $285.00 to $260.00 and set a "buy" rating for the company in a research report on Thursday, January 23rd. Leerink Partners raised shares of Align Technology from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. UBS Group decreased their price target on shares of Align Technology from $240.00 to $215.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Finally, Morgan Stanley dropped their price objective on shares of Align Technology from $280.00 to $272.00 and set an "overweight" rating on the stock in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Align Technology has a consensus rating of "Moderate Buy" and an average price target of $245.75.

Align Technology 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.