Robeco Institutional Asset Management B.V. Sells 70,740 Shares of Align Technology, Inc. $ALGN

Key Points

• Robeco Institutional Asset Management cut its stake in Align Technology by 75.5%, selling 70,740 shares in Q4 and leaving it with 22,981 shares valued at $3.588 million.
• Several large institutions (Vanguard, Capital International, Invesco) increased their holdings, and institutional investors now own 88.43% of Align's stock.
• Align beat quarterly expectations with EPS of $3.29 vs. $2.99 est. and revenue of $1.05B vs. $1.03B, and analysts have raised price targets, leaving a consensus "Moderate Buy" and a $201.31 price target.

Robeco Institutional Asset Management B.V. decreased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 75.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,981 shares of the medical equipment provider's stock after selling 70,740 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Align Technology were worth $3,588,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Align Technology by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 8,301,611 shares of the medical equipment provider's stock valued at $1,039,528,000 after buying an additional 58,546 shares in the last quarter. Capital International Investors lifted its holdings in Align Technology by 88.6% during the 3rd quarter. Capital International Investors now owns 3,050,373 shares of the medical equipment provider's stock valued at $381,968,000 after buying an additional 1,433,393 shares in the last quarter. Ninety One UK Ltd lifted its holdings in Align Technology by 18.3% during the 3rd quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider's stock valued at $283,898,000 after buying an additional 350,883 shares in the last quarter. Invesco Ltd. lifted its holdings in Align Technology by 37.4% during the 3rd quarter. Invesco Ltd. now owns 1,497,535 shares of the medical equipment provider's stock valued at $187,521,000 after buying an additional 407,559 shares in the last quarter. Finally, Holocene Advisors LP bought a new stake in shares of Align Technology in the 3rd quarter valued at about $179,035,000. Institutional investors own 88.43% of the company's stock.

Align Technology Stock Performance

NASDAQ:ALGN opened at $185.02 on Friday. Align Technology, Inc. has a one year low of $122.00 and a one year high of $208.30. The firm has a market cap of $13.25 billion, a P/E ratio of 32.69, a P/E/G ratio of 2.04 and a beta of 1.81. The firm has a 50-day simple moving average of $179.60 and a 200-day simple moving average of $159.99.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.99 by $0.30. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the previous year, the firm earned $2.44 EPS. The company's quarterly revenue was up 5.3% compared to the same quarter last year. On average, research analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Insider Activity

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

Analyst Ratings Changes

Several equities research analysts have recently commented on ALGN shares. Wells Fargo & Company boosted their price target on shares of Align Technology from $181.00 to $200.00 and gave the company an "overweight" rating in a report on Thursday, February 5th. Piper Sandler boosted their price target on shares of Align Technology from $200.00 to $220.00 and gave the company an "overweight" rating in a report on Thursday, February 5th. Leerink Partners boosted their price target on shares of Align Technology from $210.00 to $225.00 and gave the company an "outperform" rating in a report on Thursday, February 5th. Citigroup started coverage on shares of Align Technology in a report on Wednesday. They issued a "buy" rating and a $240.00 price target for the company. Finally, Weiss Ratings upgraded shares of Align Technology from a "sell (d+)" rating to a "hold (c-)" rating in a report on Friday, January 16th. Eight analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $201.31.

About Align Technology

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.

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