Ninety One North America Inc. Purchases 403 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Ninety One North America Inc. lifted its position in Align Technology, Inc. (NASDAQ:ALGN) by 2.9% during the 4th quarter, Holdings Channel reports. The firm owned 14,322 shares of the medical equipment provider’s stock after buying an additional 403 shares during the quarter. Ninety One North America Inc.’s holdings in Align Technology were worth $3,924,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ALGN. Rhenman & Partners Asset Management AB bought a new stake in shares of Align Technology in the 3rd quarter worth about $305,000. Norges Bank acquired a new position in Align Technology during the 4th quarter worth about $150,692,000. Ameriprise Financial Inc. lifted its position in Align Technology by 348.9% during the 3rd quarter. Ameriprise Financial Inc. now owns 756,393 shares of the medical equipment provider’s stock worth $230,938,000 after buying an additional 587,886 shares in the last quarter. Penn Capital Management Company LLC acquired a new position in Align Technology during the 1st quarter worth about $52,560,000. Finally, BNP Paribas Arbitrage SA lifted its position in Align Technology by 481.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 188,512 shares of the medical equipment provider’s stock worth $82,191,000 after buying an additional 156,110 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Insider Activity

In other news, Director Joseph Lacob sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the sale, the director now owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Align Technology news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the sale, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the sale, the director now directly owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,524 shares of company stock valued at $8,403,924. 0.64% of the stock is owned by insiders.

Align Technology Price Performance

Shares of ALGN traded up $3.77 during mid-day trading on Thursday, hitting $303.91. 156,415 shares of the company’s stock were exchanged, compared to its average volume of 745,411. The company has a market cap of $22.87 billion, a PE ratio of 51.57, a P/E/G ratio of 5.46 and a beta of 1.65. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $413.20. The company has a 50-day simple moving average of $312.61 and a 200 day simple moving average of $269.97.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, beating the consensus estimate of $1.78 by $0.13. The company had revenue of $956.73 million during the quarter, compared to the consensus estimate of $928.57 million. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. On average, analysts anticipate that Align Technology, Inc. will post 7.69 earnings per share for the current year.

Analyst Ratings Changes

ALGN has been the topic of several research reports. The Goldman Sachs Group upped their price target on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. Stifel Nicolaus upped their price target on shares of Align Technology from $340.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. SVB Leerink initiated coverage on shares of Align Technology in a research report on Monday, February 26th. They set a “market perform” rating and a $310.00 price target on the stock. UBS Group upped their price target on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $339.91.

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.