ING Groep NV Has $7.22 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

ING Groep NV grew its stake in Align Technology, Inc. (NASDAQ:ALGN) by 201.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 28,391 shares of the medical equipment provider’s stock after buying an additional 18,970 shares during the period. ING Groep NV’s holdings in Align Technology were worth $7,220,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Align Technology by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 8,375,147 shares of the medical equipment provider’s stock valued at $2,746,378,000 after buying an additional 25,362 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Align Technology by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 1,148,282 shares of the medical equipment provider’s stock valued at $277,230,000 after purchasing an additional 15,540 shares during the last quarter. Ninety One UK Ltd increased its stake in shares of Align Technology by 1.0% in the second quarter. Ninety One UK Ltd now owns 1,147,124 shares of the medical equipment provider’s stock worth $276,950,000 after purchasing an additional 10,919 shares during the period. Bares Capital Management Inc. lifted its position in shares of Align Technology by 44.4% during the 1st quarter. Bares Capital Management Inc. now owns 819,930 shares of the medical equipment provider’s stock worth $268,871,000 after purchasing an additional 252,220 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN boosted its stake in Align Technology by 0.5% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 707,542 shares of the medical equipment provider’s stock valued at $170,822,000 after purchasing an additional 3,600 shares during the period. Institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Evercore ISI reduced their price target on shares of Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Piper Sandler dropped their price objective on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Morgan Stanley cut their price objective on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Finally, Robert W. Baird decreased their target price on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $276.38.

Align Technology Price Performance

Align Technology stock opened at $223.69 on Friday. The business has a 50 day simple moving average of $228.80 and a 200 day simple moving average of $240.79. Align Technology, Inc. has a one year low of $196.09 and a one year high of $335.40. The company has a market capitalization of $16.70 billion, a PE ratio of 38.17, a price-to-earnings-growth ratio of 5.57 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.31 by $0.04. The company had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.62 EPS. Equities analysts anticipate that Align Technology, Inc. will post 7.45 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.