Ninety One North America Inc. Has $12.88 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

Ninety One North America Inc. reduced its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,792 shares of the medical equipment provider’s stock after selling 2,624 shares during the period. Ninety One North America Inc. owned about 0.08% of Align Technology worth $12,884,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of ALGN. True Wealth Design LLC boosted its position in shares of Align Technology by 10,700.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 107 shares during the period. Quarry LP raised its stake in Align Technology by 53.0% in the second quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock valued at $31,000 after buying an additional 44 shares during the period. Neo Ivy Capital Management bought a new stake in Align Technology in the third quarter valued at approximately $32,000. CVA Family Office LLC raised its stake in Align Technology by 85.2% in the third quarter. CVA Family Office LLC now owns 150 shares of the medical equipment provider’s stock valued at $38,000 after buying an additional 69 shares during the period. Finally, Mather Group LLC. raised its stake in Align Technology by 51.6% in the third quarter. Mather Group LLC. now owns 185 shares of the medical equipment provider’s stock valued at $47,000 after buying an additional 63 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ALGN. Jefferies Financial Group lowered their target price on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. Stifel Nicolaus lowered their price objective on Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Mizuho initiated coverage on Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective on the stock. Finally, Morgan Stanley lowered their price objective on Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $271.70.

Align Technology Stock Performance

Shares of ALGN stock opened at $216.62 on Tuesday. The stock’s fifty day moving average price is $222.95 and its two-hundred day moving average price is $226.73. The company has a market cap of $16.17 billion, a PE ratio of 37.15, a P/E/G ratio of 4.80 and a beta of 1.67. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40.

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.