Nordea Investment Management AB Acquires 132,019 Shares of Align Technology, Inc. $ALGN

Nordea Investment Management AB lifted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 20.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 770,360 shares of the medical equipment provider’s stock after purchasing an additional 132,019 shares during the period. Nordea Investment Management AB’s holdings in Align Technology were worth $95,178,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Czech National Bank lifted its stake in Align Technology by 3.3% in the second quarter. Czech National Bank now owns 16,654 shares of the medical equipment provider’s stock valued at $3,153,000 after buying an additional 537 shares in the last quarter. QRG Capital Management Inc. bought a new stake in Align Technology in the 2nd quarter valued at $306,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Align Technology in the 3rd quarter worth $1,327,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of Align Technology by 4.5% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,372 shares of the medical equipment provider’s stock valued at $449,000 after purchasing an additional 102 shares during the period. Finally, Navera Investment Management Ltd. lifted its holdings in shares of Align Technology by 3.0% in the second quarter. Navera Investment Management Ltd. now owns 787,559 shares of the medical equipment provider’s stock valued at $149,126,000 after purchasing an additional 23,080 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Trading Down 0.6%

NASDAQ ALGN opened at $169.23 on Thursday. The firm has a market capitalization of $12.14 billion, a P/E ratio of 32.80, a price-to-earnings-growth ratio of 1.92 and a beta of 1.83. The firm’s fifty day moving average price is $153.60 and its two-hundred day moving average price is $151.67. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $237.23.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.23. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The company had revenue of $995.69 million for the quarter, compared to analyst estimates of $980.75 million. During the same period in the previous year, the business earned $2.35 EPS. Align Technology’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, research analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Analyst Ratings Changes

ALGN has been the subject of a number of research reports. Wall Street Zen upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, October 30th. Jefferies Financial Group boosted their price objective on shares of Align Technology from $140.00 to $155.00 in a research report on Thursday, October 30th. Leerink Partners raised their target price on shares of Align Technology from $172.00 to $189.00 in a research report on Thursday, October 30th. Finally, Morgan Stanley boosted their price target on shares of Align Technology from $142.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $172.18.

About Align Technology

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.