Impax Asset Management Group plc Has $20.54 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Impax Asset Management Group plc trimmed its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 13.6% in the fourth quarter, HoldingsChannel reports. The firm owned 98,526 shares of the medical equipment provider’s stock after selling 15,531 shares during the quarter. Impax Asset Management Group plc’s holdings in Align Technology were worth $20,544,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. True Wealth Design LLC boosted its holdings in shares of Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 107 shares during the period. Neo Ivy Capital Management acquired a new stake in Align Technology during the third quarter worth approximately $32,000. Quarry LP boosted its holdings in shares of Align Technology by 74.8% during the third quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 95 shares during the period. Versant Capital Management Inc grew its position in shares of Align Technology by 212.2% in the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after purchasing an additional 157 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Align Technology during the fourth quarter worth approximately $52,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Price Performance

Shares of NASDAQ:ALGN opened at $190.72 on Tuesday. Align Technology, Inc. has a 1 year low of $185.20 and a 1 year high of $335.40. The stock has a market capitalization of $14.24 billion, a price-to-earnings ratio of 34.00, a price-to-earnings-growth ratio of 2.24 and a beta of 1.67. The company’s 50 day simple moving average is $214.26 and its 200 day simple moving average is $224.27.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. As a group, analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ALGN. Piper Sandler reduced their price target on Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $235.00 to $280.00 in a research report on Monday, January 6th. Evercore ISI raised their price target on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Jefferies Financial Group decreased 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 report on Thursday, January 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $269.91.

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.