National Pension Service Buys 3,686 Shares of Align Technology, Inc. (NASDAQ:ALGN)

National Pension Service grew its stake in Align Technology, Inc. (NASDAQ:ALGN) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,892 shares of the medical equipment provider’s stock after purchasing an additional 3,686 shares during the quarter. National Pension Service owned approximately 0.17% of Align Technology worth $25,833,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. True Wealth Design LLC raised its position in shares of Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 107 shares during the period. Neo Ivy Capital Management bought a new position in shares of Align Technology in the third quarter valued at about $32,000. Quarry LP raised its position in shares of Align Technology by 74.8% in the third quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 95 shares during the period. Versant Capital Management Inc increased its position in Align Technology by 212.2% during the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after acquiring an additional 157 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new position in Align Technology during the fourth quarter worth about $52,000. 88.43% of the stock is owned by institutional investors.

Align Technology Stock Up 0.7 %

Shares of Align Technology stock opened at $187.03 on Friday. The company has a market capitalization of $13.96 billion, a price-to-earnings ratio of 33.34, a PEG ratio of 2.24 and a beta of 1.67. Align Technology, Inc. has a 12-month low of $183.24 and a 12-month high of $335.40. The firm’s 50-day moving average price is $211.95 and its two-hundred day moving average price is $223.41.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share 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%. On average, sell-side analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ALGN shares. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. 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 research report on Thursday, February 6th. Jefferies Financial Group lowered their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Mizuho started coverage on shares of Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price target on the stock. Finally, Morgan Stanley lowered their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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.