Impax Asset Management Group plc Sells 15,531 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Impax Asset Management Group plc decreased its position in Align Technology, Inc. (NASDAQ:ALGN) by 13.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 98,526 shares of the medical equipment provider’s stock after selling 15,531 shares during the period. Impax Asset Management Group plc owned approximately 0.13% of Align Technology worth $20,544,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Baker Avenue Asset Management LP acquired a new position in Align Technology in the third quarter valued at about $4,250,000. Swedbank AB lifted its holdings in shares of Align Technology by 30.1% during the 3rd quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock valued at $98,960,000 after purchasing an additional 90,000 shares in the last quarter. KBC Group NV grew its position in shares of Align Technology by 11.8% in the 3rd quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock valued at $13,595,000 after purchasing an additional 5,663 shares during the period. Nordea Investment Management AB increased its stake in Align Technology by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock worth $56,870,000 after purchasing an additional 9,139 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in Align Technology by 119.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider’s stock worth $35,368,000 after buying an additional 92,407 shares during the period. Institutional investors own 88.43% of the company’s stock.

Align Technology Trading Up 0.2 %

NASDAQ ALGN opened at $190.72 on Tuesday. Align Technology, Inc. has a 12 month low of $185.20 and a 12 month high of $335.40. The stock has a 50 day moving average of $214.26 and a 200-day moving average of $224.27. The company has a market cap of $14.24 billion, a PE ratio of 34.00, a PEG ratio of 2.24 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 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%. As a group, sell-side analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ALGN has been the subject of several research analyst reports. Piper Sandler reduced 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. Bank of America upped their target price on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Wells Fargo & Company started coverage on Align Technology in a research note on Friday, February 14th. They issued an “overweight” rating and a $255.00 price target on the stock. Mizuho began coverage on Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective for the company. Finally, Morgan Stanley decreased their price objective on Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $269.91.

Align Technology Company 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.