Handelsbanken Fonder AB Decreases Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Handelsbanken Fonder AB reduced its position in Align Technology, Inc. (NASDAQ:ALGN) by 15.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,360 shares of the medical equipment provider’s stock after selling 4,988 shares during the period. Handelsbanken Fonder AB’s holdings in Align Technology were worth $7,497,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dfpg Investments LLC boosted its position in Align Technology by 3.3% in the 4th quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider’s stock valued at $340,000 after buying an additional 42 shares during the last quarter. Flagship Harbor Advisors LLC boosted its position in Align Technology by 2.7% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,694 shares of the medical equipment provider’s stock valued at $517,000 after buying an additional 44 shares during the last quarter. Richard W. Paul & Associates LLC boosted its position in Align Technology by 2.8% in the 4th quarter. Richard W. Paul & Associates LLC now owns 1,669 shares of the medical equipment provider’s stock valued at $457,000 after buying an additional 45 shares during the last quarter. Valley National Advisers Inc. boosted its position in Align Technology by 29.7% in the 3rd quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock valued at $65,000 after buying an additional 49 shares during the last quarter. Finally, Jag Capital Management LLC lifted its position in shares of Align Technology by 4.1% during the third quarter. Jag Capital Management LLC now owns 1,258 shares of the medical equipment provider’s stock worth $384,000 after purchasing an additional 50 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Align Technology

In other Align Technology news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the sale, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Align Technology news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the sale, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the sale, the director now owns 146,994 shares in the company, valued at approximately $46,010,591.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,524 shares of company stock worth $8,403,924. 0.72% of the stock is owned by company insiders.

Align Technology Stock Up 0.6 %

ALGN opened at $313.78 on Thursday. The firm has a market cap of $23.61 billion, a price-to-earnings ratio of 53.91, a price-to-earnings-growth ratio of 5.39 and a beta of 1.65. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $413.20. The company’s 50-day moving average price is $313.37 and its 200 day moving average price is $270.52.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.08. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The firm had revenue of $997.43 million for the quarter, compared to analyst estimates of $971.97 million. Research analysts anticipate that Align Technology, Inc. will post 7.69 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on ALGN shares. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. Piper Sandler increased their price target on shares of Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. UBS Group increased their price target on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Stifel Nicolaus increased their price target on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, SVB Leerink started coverage on shares of Align Technology in a research report on Monday, February 26th. They set a “market perform” rating and a $310.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Align Technology currently has an average rating of “Moderate Buy” and an average target price of $344.45.

About Align Technology

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.