Ninety One UK Ltd Increases Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Ninety One UK Ltd grew its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 3.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,220,601 shares of the medical equipment provider’s stock after buying an additional 43,524 shares during the quarter. Ninety One UK Ltd owned approximately 1.64% of Align Technology worth $254,508,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Align Technology by 49.0% in the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after acquiring an additional 866,663 shares during the period. Geode Capital Management LLC raised its holdings in Align Technology by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock worth $443,810,000 after purchasing an additional 21,605 shares in the last quarter. FMR LLC lifted its position in shares of Align Technology by 43.0% in the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after purchasing an additional 367,508 shares during the period. Disciplined Growth Investors Inc. MN boosted its stake in shares of Align Technology by 6.4% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 753,026 shares of the medical equipment provider’s stock valued at $191,510,000 after purchasing an additional 45,484 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of Align Technology by 96.3% during the third quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock valued at $171,493,000 after buying an additional 330,807 shares during the period. 88.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on ALGN shares. Stifel Nicolaus lowered their price objective on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $235.00 to $280.00 in a research report on Monday, January 6th. Evercore ISI decreased their price objective on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Monday, November 4th. Finally, Robert W. Baird reduced their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.70.

Align Technology Stock Down 0.5 %

Shares of ALGN opened at $214.75 on Wednesday. Align Technology, Inc. has a twelve month low of $196.09 and a twelve month high of $335.40. The company has a market capitalization of $16.03 billion, a P/E ratio of 36.65, a price-to-earnings-growth ratio of 4.80 and a beta of 1.67. The firm has a 50 day moving average of $222.45 and a 200 day moving average of $226.48.

Align Technology 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.