Handelsbanken Fonder AB Sells 5,280 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Handelsbanken Fonder AB lowered its stake in Align Technology, Inc. (NASDAQ:ALGN) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,592 shares of the medical equipment provider’s stock after selling 5,280 shares during the quarter. Handelsbanken Fonder AB owned 0.14% of Align Technology worth $21,600,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. True Wealth Design LLC increased its stake in shares of Align Technology by 10,700.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 107 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Align Technology in the 3rd quarter valued at $32,000. Versant Capital Management Inc increased its stake in shares of Align Technology by 212.2% in the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after acquiring an additional 157 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Align Technology in the 4th quarter valued at $52,000. Finally, Quarry LP increased its stake in shares of Align Technology by 74.8% in the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock valued at $56,000 after acquiring an additional 95 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Morgan Stanley lowered their price objective 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. Jefferies Financial Group reduced their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company initiated coverage on shares of Align Technology in a research report on Friday, February 14th. They issued an “overweight” rating and a $255.00 price target for the company. 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 report on Monday, January 6th. 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $269.91.

Align Technology Price Performance

ALGN opened at $190.43 on Friday. The company has a market capitalization of $14.22 billion, a price-to-earnings ratio of 33.94, a P/E/G ratio of 2.38 and a beta of 1.67. The firm’s fifty day moving average price is $215.05 and its two-hundred day moving average price is $224.17. Align Technology, Inc. has a 1 year low of $186.82 and a 1 year high of $335.40.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts’ consensus estimates 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, equities analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current 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.