abrdn plc Boosts Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

abrdn plc lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 25.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,134 shares of the medical equipment provider's stock after buying an additional 7,665 shares during the quarter. abrdn plc's holdings in Align Technology were worth $10,449,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ALGN. Rhenman & Partners Asset Management AB acquired a new position in Align Technology during the third quarter valued at approximately $305,000. Ameriprise Financial Inc. grew its holdings in Align Technology by 348.9% during the third quarter. Ameriprise Financial Inc. now owns 756,393 shares of the medical equipment provider's stock valued at $230,938,000 after purchasing an additional 587,886 shares during the period. Invesco Ltd. grew its holdings in Align Technology by 15.4% during the third quarter. Invesco Ltd. now owns 960,271 shares of the medical equipment provider's stock valued at $293,190,000 after purchasing an additional 128,273 shares during the period. Quadrature Capital Ltd acquired a new position in Align Technology during the third quarter valued at approximately $35,499,000. Finally, DAVENPORT & Co LLC grew its holdings in Align Technology by 5,179.5% during the fourth quarter. DAVENPORT & Co LLC now owns 114,671 shares of the medical equipment provider's stock valued at $31,576,000 after purchasing an additional 112,499 shares during the period. Institutional investors and hedge funds own 88.43% of the company's stock.

Analyst Ratings Changes

ALGN has been the subject of a number of analyst reports. UBS Group boosted their price objective on shares of Align Technology from $280.00 to $320.00 and gave the company a "neutral" rating in a report on Monday, April 15th. SVB Leerink assumed coverage on shares of Align Technology in a report on Monday, February 26th. They issued a "market perform" rating and a $310.00 price target for the company. Leerink Partnrs reiterated a "market perform" rating on shares of Align Technology in a report on Monday, February 26th. Stifel Nicolaus upped their price target on shares of Align Technology from $350.00 to $400.00 and gave the company a "buy" rating in a report on Thursday, April 18th. Finally, The Goldman Sachs Group upped their price target on shares of Align Technology from $197.00 to $225.00 and gave the company a "sell" rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Align Technology presently has a consensus rating of "Moderate Buy" and a consensus price target of $341.36.

Insiders Place Their Bets

In other Align Technology news, Director Joseph Lacob sold 10,000 shares of the company's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the sale, the director now directly owns 146,994 shares of the company's stock, valued at $46,010,591.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Emory Wright sold 2,524 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares of the company's stock, valued at $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Lacob sold 10,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the transaction, the director now directly owns 146,994 shares in the company, valued at $46,010,591.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,524 shares of company stock valued at $8,403,924. 0.64% of the stock is currently owned by corporate insiders.

Align Technology Stock Down 0.5 %

Shares of ALGN stock traded down $1.48 during trading on Friday, reaching $309.02. The company's stock had a trading volume of 737,209 shares, compared to its average volume of 756,326. The business has a fifty day moving average price of $313.38 and a 200-day moving average price of $270.98. The company has a market cap of $23.25 billion, a price-to-earnings ratio of 50.91, a price-to-earnings-growth ratio of 5.62 and a beta of 1.65. Align Technology, Inc. has a one year low of $176.34 and a one year high of $413.20.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a net margin of 11.80% and a return on equity of 14.22%. The firm had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Research analysts anticipate that Align Technology, Inc. will post 7.69 EPS for the current year.

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.