Swedbank AB Purchases 97,152 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Swedbank AB grew its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 25.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 486,267 shares of the medical equipment provider’s stock after acquiring an additional 97,152 shares during the period. Swedbank AB’s holdings in Align Technology were worth $101,392,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP acquired a new stake in Align Technology in the 3rd quarter valued at $4,250,000. KBC Group NV increased its holdings in shares of Align Technology by 11.8% during the third quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock worth $13,595,000 after purchasing an additional 5,663 shares during the period. Nordea Investment Management AB raised its holdings in 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. Fisher Asset Management LLC lifted its position in Align Technology by 2.6% during the third quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock worth $26,900,000 after purchasing an additional 2,717 shares during the period. Finally, National Bank of Canada FI boosted its position 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 acquiring an additional 8,338 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ALGN shares. Robert W. Baird lowered their price objective on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Evercore ISI lowered their price target on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Jefferies Financial Group cut their target price on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Finally, Mizuho began coverage on Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 target price on the stock. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Align Technology has a consensus rating of “Moderate Buy” and an average price target of $267.45.

Align Technology Price Performance

ALGN opened at $224.45 on Thursday. The firm has a market capitalization of $16.76 billion, a price-to-earnings ratio of 38.30, a PEG ratio of 5.14 and a beta of 1.67. Align Technology, Inc. has a one year low of $196.09 and a one year high of $335.40. The business has a 50 day simple moving average of $223.13 and a two-hundred day simple moving average of $227.22.

About Align Technology

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.