Handelsbanken Fonder AB Sells 5,280 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Handelsbanken Fonder AB trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 103,592 shares of the medical equipment provider’s stock after selling 5,280 shares during the period. Handelsbanken Fonder AB’s holdings in Align Technology were worth $21,600,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Align Technology by 49.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after acquiring an additional 866,663 shares during the period. Geode Capital Management LLC raised its stake 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 valued at $443,810,000 after acquiring an additional 21,605 shares during the period. FMR LLC raised its stake in Align Technology by 43.0% in the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock valued at $310,736,000 after acquiring an additional 367,508 shares during the period. Ninety One UK Ltd raised its stake in Align Technology by 3.7% in the 4th quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider’s stock valued at $254,508,000 after acquiring an additional 43,524 shares during the period. Finally, Meridiem Investment Management Ltd. raised its stake in Align Technology by 63.7% in the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock valued at $159,470,000 after acquiring an additional 297,472 shares during the period. 88.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ALGN has been the topic of a number of research reports. Evercore ISI boosted their price objective on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Piper Sandler decreased their price target on Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group decreased their price target on 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 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 decreased their price target on 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 issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and an average price target of $269.91.

Align Technology Trading Down 3.9 %

Shares of NASDAQ:ALGN opened at $190.43 on Friday. The stock has a 50 day moving average of $215.05 and a 200 day moving average of $224.17. Align Technology, Inc. has a 12-month low of $186.82 and a 12-month high of $335.40. The company has a market cap of $14.22 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 2.38 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. Equities research analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

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.