National Pension Service Has $25.83 Million Position in Align Technology, Inc. (NASDAQ:ALGN)

National Pension Service grew its stake in Align Technology, Inc. (NASDAQ:ALGN) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,892 shares of the medical equipment provider’s stock after purchasing an additional 3,686 shares during the period. National Pension Service’s holdings in Align Technology were worth $25,833,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP boosted its position in Align Technology by 49.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after buying an additional 866,663 shares during the period. Geode Capital Management LLC boosted its position in Align Technology by 1.2% during 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 buying an additional 21,605 shares during the period. FMR LLC boosted its position in Align Technology by 43.0% during the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after buying an additional 367,508 shares during the period. Ninety One UK Ltd boosted its position in Align Technology by 3.7% during the 4th quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider’s stock worth $254,508,000 after buying an additional 43,524 shares during the period. Finally, Meridiem Investment Management Ltd. boosted its position in Align Technology by 63.7% during the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock worth $159,470,000 after buying an additional 297,472 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Up 0.7 %

Align Technology stock opened at $187.03 on Friday. Align Technology, Inc. has a 12-month low of $183.24 and a 12-month high of $335.40. The firm’s fifty day moving average is $211.95 and its 200 day moving average is $223.41. The company has a market capitalization of $13.96 billion, a PE ratio of 33.34, a PEG ratio of 2.24 and a beta of 1.67.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Bank of America lifted their target price on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Mizuho assumed coverage on shares of Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 target price on the stock. 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 report on Thursday, February 6th. Piper Sandler lowered their price target on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Finally, Wells Fargo & Company assumed coverage on shares of Align Technology in a report on Friday, February 14th. They set an “overweight” rating and a $255.00 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Align Technology has an average rating of “Moderate Buy” and a consensus price target of $269.91.

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.