Handelsbanken Fonder AB Has $2.72 Million Position in Align Technology, Inc. $ALGN

Handelsbanken Fonder AB raised its stake in Align Technology, Inc. (NASDAQ:ALGN) by 14.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,700 shares of the medical equipment provider’s stock after acquiring an additional 2,800 shares during the period. Handelsbanken Fonder AB’s holdings in Align Technology were worth $2,717,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Align Technology by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 8,301,611 shares of the medical equipment provider’s stock worth $1,039,528,000 after purchasing an additional 58,546 shares in the last quarter. Ninety One UK Ltd lifted its position in Align Technology by 18.3% during the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock worth $283,898,000 after purchasing an additional 350,883 shares during the period. Federated Hermes Inc. increased its holdings in Align Technology by 31.0% in the 2nd quarter. Federated Hermes Inc. now owns 926,733 shares of the medical equipment provider’s stock valued at $175,458,000 after buying an additional 219,219 shares during the period. Disciplined Growth Investors Inc. MN increased its holdings in Align Technology by 0.9% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 844,987 shares of the medical equipment provider’s stock valued at $159,981,000 after buying an additional 7,754 shares during the period. Finally, Norges Bank acquired a new position in shares of Align Technology in the 2nd quarter valued at approximately $155,297,000. 88.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Leerink Partners increased their price target on shares of Align Technology from $210.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Jefferies Financial Group upped their target price on Align Technology from $155.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday, February 5th. Piper Sandler lifted their price target on Align Technology from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Barclays upped their price objective on Align Technology from $170.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 25th. Finally, Stifel Nicolaus raised their price objective on Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat, Align Technology presently has an average rating of “Hold” and an average target price of $198.08.

Insider Activity

In related news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total value of $1,508,611.39. Following the completion of the transaction, the executive vice president owned 8,237 shares in the company, valued at $1,559,346.47. This trade represents a 49.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by corporate insiders.

Align Technology Stock Performance

Shares of ALGN opened at $182.64 on Wednesday. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $208.30. The stock has a market capitalization of $13.02 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 2.07 and a beta of 1.79. The stock has a fifty day moving average of $173.43 and a 200-day moving average of $151.70.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.30. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.Align Technology’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.44 EPS. As a group, equities analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology Company 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.