Nordea Investment Management AB Acquires 132,019 Shares of Align Technology, Inc. $ALGN

Nordea Investment Management AB raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 20.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 770,360 shares of the medical equipment provider’s stock after purchasing an additional 132,019 shares during the quarter. Nordea Investment Management AB owned 1.06% of Align Technology worth $95,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Atria Investments Inc lifted its position in shares of Align Technology by 4.9% during the 2nd quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider’s stock worth $298,000 after buying an additional 74 shares during the period. IFP Advisors Inc raised its stake in Align Technology by 5.7% during the second quarter. IFP Advisors Inc now owns 1,427 shares of the medical equipment provider’s stock worth $270,000 after acquiring an additional 77 shares in the last quarter. Rothschild Investment LLC boosted its stake in shares of Align Technology by 140.3% in the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 87 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Align Technology by 42.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider’s stock valued at $59,000 after purchasing an additional 92 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in shares of Align Technology by 0.3% in the 2nd quarter. Royal London Asset Management Ltd. now owns 31,629 shares of the medical equipment provider’s stock worth $5,988,000 after purchasing an additional 93 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Down 0.6%

Shares of ALGN opened at $169.23 on Thursday. The stock’s fifty day simple moving average is $153.60 and its 200-day simple moving average is $151.67. The firm has a market capitalization of $12.14 billion, a PE ratio of 32.80, a price-to-earnings-growth ratio of 1.92 and a beta of 1.83. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $237.23.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.23. Align Technology had a return on equity of 13.96% and a net margin of 9.50%.The firm had revenue of $995.69 million during the quarter, compared to analysts’ expectations of $980.75 million. During the same period in the previous year, the business posted $2.35 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, October 8th. Piper Sandler reaffirmed an “overweight” rating and set a $200.00 price target (up from $190.00) on shares of Align Technology in a report on Thursday, October 30th. Mizuho cut their price objective on Align Technology from $210.00 to $170.00 and set an “outperform” rating for the company in a research report on Monday, October 13th. Evercore ISI decreased their target price on Align Technology from $220.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday, November 25th. Finally, Barclays assumed coverage on Align Technology in a report on Monday, December 8th. They issued an “equal weight” rating and a $170.00 price target for the company. Six research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Align Technology currently has a consensus rating of “Hold” and an average target price of $172.18.

Align Technology Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.