Nordea Investment Management AB Purchases 9,139 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Nordea Investment Management AB grew its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 273,664 shares of the medical equipment provider’s stock after purchasing an additional 9,139 shares during the quarter. Nordea Investment Management AB’s holdings in Align Technology were worth $56,870,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ALGN. Wellington Management Group LLP raised its stake in shares of Align Technology by 49.0% during the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after acquiring an additional 866,663 shares in the last quarter. Geode Capital Management LLC raised its position in Align Technology by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock worth $443,810,000 after purchasing an additional 21,605 shares during the period. FMR LLC lifted its stake in Align Technology by 43.0% in the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after purchasing an additional 367,508 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its stake in shares of Align Technology by 6.4% during the third quarter. Disciplined Growth Investors Inc. MN now owns 753,026 shares of the medical equipment provider’s stock valued at $191,510,000 after buying an additional 45,484 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its holdings in shares of Align Technology by 96.3% in the third quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock worth $171,493,000 after buying an additional 330,807 shares during the period. Institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of Align Technology stock opened at $217.56 on Wednesday. Align Technology, Inc. has a 1 year low of $196.09 and a 1 year high of $335.40. The company has a 50-day moving average of $221.89 and a 200 day moving average of $229.46. The firm has a market cap of $16.24 billion, a price-to-earnings ratio of 37.13, a PEG ratio of 6.20 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The firm had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. During the same period in the previous year, the firm posted $1.62 EPS. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities analysts anticipate that Align Technology, Inc. will post 7.45 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ALGN. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. Piper Sandler lowered their price target on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Evercore ISI cut their price target on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Stifel Nicolaus lowered their price objective on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, Bank of America boosted their price target on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $268.20.

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.