Generali Asset Management SPA SGR Takes Position in Align Technology, Inc. (NASDAQ:ALGN)

Generali Asset Management SPA SGR bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,059 shares of the medical equipment provider’s stock, valued at approximately $638,000.

Other large investors have also added to or reduced their stakes in the company. Swedbank AB raised its holdings in Align Technology by 30.1% in the 3rd quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock valued at $98,960,000 after acquiring an additional 90,000 shares during the period. Nordea Investment Management AB grew its position in shares of Align Technology by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock valued at $56,870,000 after purchasing an additional 9,139 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Align Technology by 119.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider’s stock worth $35,368,000 after purchasing an additional 92,407 shares during the period. Fisher Asset Management LLC boosted its stake in Align Technology by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock valued at $26,900,000 after purchasing an additional 2,717 shares during the period. Finally, National Bank of Canada FI boosted its stake in Align Technology by 25.7% in the 3rd quarter. National Bank of Canada FI now owns 40,826 shares of the medical equipment provider’s stock valued at $10,383,000 after purchasing an additional 8,338 shares during the period. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Up 1.6 %

NASDAQ:ALGN opened at $168.81 on Friday. The firm has a market capitalization of $12.42 billion, a PE ratio of 30.09, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a twelve month low of $158.13 and a twelve month high of $335.40. The stock’s 50-day simple moving average is $199.65 and its 200 day simple moving average is $217.11.

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

Wall Street Analysts Forecast Growth

ALGN has been the subject of a number of research reports. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Mizuho assumed coverage on shares of Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective for the company. Bank of America increased 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. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $235.00 to $280.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and an average price target of $266.73.

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.