Russell Investments Group Ltd. Has $13.27 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Russell Investments Group Ltd. raised its stake in Align Technology, Inc. (NASDAQ:ALGN) by 32.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 48,360 shares of the medical equipment provider’s stock after buying an additional 11,983 shares during the quarter. Russell Investments Group Ltd. owned 0.06% of Align Technology worth $13,267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALGN. Morgan Stanley boosted its stake in Align Technology by 9.8% during the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock worth $310,866,000 after acquiring an additional 90,581 shares during the last quarter. Rhenman & Partners Asset Management AB bought a new position in shares of Align Technology during the third quarter worth $305,000. Invesco Ltd. grew its holdings in shares of Align Technology by 15.4% in the 3rd quarter. Invesco Ltd. now owns 960,271 shares of the medical equipment provider’s stock valued at $293,190,000 after buying an additional 128,273 shares during the period. Northern Trust Corp raised its stake in Align Technology by 2.7% during the 3rd quarter. Northern Trust Corp now owns 831,469 shares of the medical equipment provider’s stock worth $253,864,000 after buying an additional 21,490 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in Align Technology by 348.9% during the third quarter. Ameriprise Financial Inc. now owns 756,393 shares of the medical equipment provider’s stock worth $230,938,000 after acquiring an additional 587,886 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on ALGN. Piper Sandler reaffirmed an “overweight” rating and set a $375.00 price target (up previously from $355.00) on shares of Align Technology in a research report on Thursday, April 25th. The Goldman Sachs Group lifted their price target on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research note on Friday, February 2nd. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. Morgan Stanley raised their price objective on shares of Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Finally, Stifel Nicolaus upped their target price on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $353.00.

Insider Activity

In related news, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the transaction, the director now directly owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Emory Wright sold 2,524 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the transaction, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the sale, the director now owns 131,994 shares of the company’s stock, valued at $40,023,220.68. The disclosure for this sale can be found here. Insiders sold a total of 27,524 shares of company stock valued at $8,403,924 over the last three months. Insiders own 0.62% of the company’s stock.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $287.87 on Friday. The business has a 50-day moving average of $311.10 and a 200-day moving average of $271.50. The stock has a market capitalization of $21.66 billion, a price-to-earnings ratio of 47.43, a PEG ratio of 5.27 and a beta of 1.66. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $413.20.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.13. The company had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. On average, sell-side analysts expect that Align Technology, Inc. will post 7.92 EPS for the current year.

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.