ING Groep NV Purchases 5,450 Shares of Align Technology, Inc. $ALGN

ING Groep NV increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 166.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,715 shares of the medical equipment provider’s stock after purchasing an additional 5,450 shares during the quarter. ING Groep NV’s holdings in Align Technology were worth $1,091,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ALGN. Ninety One UK Ltd grew its stake in Align Technology by 18.3% during the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock worth $283,898,000 after buying an additional 350,883 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Align Technology by 31.0% in the second quarter. Federated Hermes Inc. now owns 926,733 shares of the medical equipment provider’s stock valued at $175,458,000 after acquiring an additional 219,219 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Align Technology by 0.9% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 844,987 shares of the medical equipment provider’s stock worth $159,981,000 after acquiring an additional 7,754 shares in the last quarter. Norges Bank bought a new stake in Align Technology during the 2nd quarter worth approximately $155,297,000. Finally, Bank of America Corp DE grew its position in Align Technology by 60.7% during the 2nd quarter. Bank of America Corp DE now owns 786,637 shares of the medical equipment provider’s stock worth $148,934,000 after acquiring an additional 297,117 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on Align Technology from $181.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Morgan Stanley raised their target price on Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Weiss Ratings upgraded shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. Stifel Nicolaus increased their price objective on shares of Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Finally, Piper Sandler raised their price objective on shares of Align Technology from $200.00 to $220.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $195.92.

Align Technology Stock Up 1.6%

Shares of ALGN opened at $186.77 on Friday. The stock’s fifty day simple moving average is $167.07 and its 200-day simple moving average is $148.38. The firm has a market capitalization of $13.40 billion, a PE ratio of 33.00, a price-to-earnings-growth ratio of 2.01 and a beta of 1.84. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $208.65.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.30. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the business posted $2.44 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current year.

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.