Mn Services Vermogensbeheer B.V. Has $6.22 Million Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Mn Services Vermogensbeheer B.V. grew its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,838 shares of the medical equipment provider’s stock after purchasing an additional 1,800 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Align Technology were worth $6,222,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALGN. Wellington Management Group LLP increased its holdings in Align Technology by 49.0% during the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after buying an additional 866,663 shares during the last quarter. Geode Capital Management LLC increased its holdings in Align Technology by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock worth $443,810,000 after buying an additional 21,605 shares during the last quarter. FMR LLC increased its holdings in Align Technology by 43.0% during the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after buying an additional 367,508 shares during the last quarter. Ninety One UK Ltd increased its holdings in Align Technology by 3.7% during the fourth quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider’s stock worth $254,508,000 after buying an additional 43,524 shares during the last quarter. Finally, Meridiem Investment Management Ltd. increased its holdings in Align Technology by 63.7% during the fourth quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock worth $159,470,000 after buying an additional 297,472 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Performance

Shares of Align Technology stock opened at $187.03 on Friday. The firm has a 50-day moving average of $211.95 and a 200-day moving average of $223.41. The stock has a market cap of $13.96 billion, a PE ratio of 33.34, a PEG ratio of 2.24 and a beta of 1.67. Align Technology, Inc. has a 52-week low of $183.24 and a 52-week high of $335.40.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. Equities research analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ALGN shares. Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Wells Fargo & Company assumed coverage on shares of Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 price objective for the company. Finally, Piper Sandler reduced their price objective on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.91.

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.