Nordea Investment Management AB Lowers Stock Position in Align Technology, Inc. $ALGN

Key Points

• Nordea Investment Management AB cut its stake in Align by 39.3% in Q4, selling 302,977 shares and leaving it with 467,383 shares valued at $73.27 million (about 0.65% of the company).
• Align beat quarterly expectations with EPS of $3.29 versus a $2.99 consensus and revenue of $1.05B versus $1.03B, prompting several analysts to raise targets and a consensus rating of "Moderate Buy" with a $198.08 average price target.
• EVP John Morici sold 7,969 shares (reducing his holding by ~49%), while institutional investors own roughly 88.43% of the stock and insiders hold about 0.66%.

Nordea Investment Management AB lessened its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 39.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 467,383 shares of the medical equipment provider's stock after selling 302,977 shares during the quarter. Nordea Investment Management AB owned approximately 0.65% of Align Technology worth $73,267,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Align Technology by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider's stock valued at $1,624,000 after acquiring an additional 469 shares in the last quarter. Focus Partners Wealth lifted its holdings in shares of Align Technology by 5.2% during the 1st quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider's stock valued at $486,000 after purchasing an additional 151 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Align Technology during the 2nd quarter valued at $204,000. Creative Planning boosted its position in shares of Align Technology by 15.6% in the 2nd quarter. Creative Planning now owns 13,631 shares of the medical equipment provider's stock worth $2,581,000 after purchasing an additional 1,837 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Align Technology by 4.1% in the 2nd quarter. Cetera Investment Advisers now owns 9,451 shares of the medical equipment provider's stock worth $1,789,000 after purchasing an additional 374 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Price Performance

Shares of ALGN stock opened at $180.86 on Tuesday. The business has a fifty day moving average of $176.73 and a 200 day moving average of $154.87. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $208.30. The firm has a market capitalization of $12.89 billion, a price-to-earnings ratio of 31.95, a price-to-earnings-growth ratio of 1.89 and a beta of 1.79.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The company's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.44 EPS. As a group, equities research analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Insider Activity at Align Technology

In related news, EVP John Morici sold 7,969 shares of the company's stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total value of $1,508,611.39. Following the sale, the executive vice president owned 8,237 shares in the company, valued at $1,559,346.47. This represents a 49.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ALGN shares. Evercore upped their target price on Align Technology from $180.00 to $200.00 and gave the company an "outperform" rating in a research report on Thursday, February 5th. Leerink Partners raised their price target on Align Technology from $210.00 to $225.00 and gave the stock an "outperform" rating in a report on Thursday, February 5th. Barclays upgraded Align Technology from an "equal weight" rating to an "overweight" rating and set a $200.00 price target on the stock in a research note on Tuesday, March 17th. Robert W. Baird set a $218.00 price objective on shares of Align Technology in a report on Thursday, February 5th. Finally, Wells Fargo & Company increased their price objective on shares of Align Technology from $181.00 to $200.00 and gave the company an "overweight" rating in a research report on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Align Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $198.08.

Align Technology Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.