Amundi Has $77.71 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

Amundi raised its stake in Align Technology, Inc. (NASDAQ:ALGN) by 77.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 360,813 shares of the medical equipment provider’s stock after purchasing an additional 157,654 shares during the period. Amundi’s holdings in Align Technology were worth $77,708,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALGN. Wellington Management Group LLP increased its stake in Align Technology by 49.0% in the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after purchasing an additional 866,663 shares in the last quarter. Holocene Advisors LP bought a new stake in Align Technology in the third quarter valued at $137,287,000. FMR LLC increased its stake in Align Technology by 43.0% in the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock valued at $310,736,000 after purchasing an additional 367,508 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Align Technology by 96.3% in the third quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock valued at $171,493,000 after purchasing an additional 330,807 shares in the last quarter. Finally, Meridiem Investment Management Ltd. increased its stake in Align Technology by 63.7% in the fourth quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock valued at $159,470,000 after purchasing an additional 297,472 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Stock Performance

Align Technology stock opened at $165.14 on Wednesday. Align Technology, Inc. has a fifty-two week low of $159.56 and a fifty-two week high of $335.40. The stock has a market cap of $12.15 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. The firm’s 50-day simple moving average is $206.29 and its 200 day simple moving average is $220.25.

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

Analyst Ratings Changes

Several research firms have weighed in on ALGN. Morgan Stanley decreased their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $235.00 to $280.00 in a research note on Monday, January 6th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Bank of America boosted their target price on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Finally, Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $269.91.

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.