Blair William & Co. IL Has $15.73 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

Blair William & Co. IL reduced its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 46.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 75,449 shares of the medical equipment provider’s stock after selling 65,601 shares during the period. Blair William & Co. IL’s holdings in Align Technology were worth $15,732,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALGN. Nordea Investment Management AB grew its holdings in shares of Align Technology by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock valued at $56,870,000 after acquiring an additional 9,139 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Align Technology by 119.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider’s stock worth $35,368,000 after purchasing an additional 92,407 shares during the last quarter. National Bank of Canada FI raised its stake in shares of Align Technology by 25.7% during the 3rd quarter. National Bank of Canada FI now owns 40,826 shares of the medical equipment provider’s stock worth $10,383,000 after purchasing an additional 8,338 shares in the last quarter. Braidwell LP boosted its holdings in shares of Align Technology by 13.3% in the 3rd quarter. Braidwell LP now owns 311,679 shares of the medical equipment provider’s stock valued at $79,266,000 after buying an additional 36,472 shares during the last quarter. Finally, Swedbank AB grew its stake in shares of Align Technology by 25.0% in the fourth quarter. Swedbank AB now owns 486,267 shares of the medical equipment provider’s stock valued at $101,392,000 after buying an additional 97,152 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Price Performance

ALGN stock opened at $159.21 on Friday. Align Technology, Inc. has a fifty-two week low of $157.57 and a fifty-two week high of $331.64. The stock has a market capitalization of $11.72 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 2.24 and a beta of 1.69. The business’s fifty day moving average price is $193.72 and its two-hundred day moving average price is $214.64.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share 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%. Research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wells Fargo & Company initiated coverage on shares of Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 price target on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Piper Sandler restated an “overweight” rating and issued a $235.00 price objective (down previously from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. Bank of America lifted their target price on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Finally, Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $262.64.

Align Technology Company 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.