Securian Asset Management Inc. Sells 200 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Securian Asset Management Inc. reduced its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,621 shares of the medical equipment provider’s stock after selling 200 shares during the quarter. Securian Asset Management Inc.’s holdings in Align Technology were worth $755,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of 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 worth $670,031,000 after purchasing an additional 866,663 shares during the period. Geode Capital Management LLC increased its stake in shares of Align Technology by 1.2% in 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 purchasing an additional 21,605 shares during the period. FMR LLC increased its stake in shares of Align Technology by 43.0% in the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after purchasing an additional 367,508 shares during the period. Ninety One UK Ltd increased its stake in shares of Align Technology by 3.7% in 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 purchasing an additional 43,524 shares during the period. Finally, Meridiem Investment Management Ltd. increased its stake in shares of 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 worth $159,470,000 after purchasing an additional 297,472 shares during the period. 88.43% of the stock is currently owned by institutional investors.

Align Technology Trading Up 3.5 %

NASDAQ ALGN opened at $166.20 on Friday. The stock’s 50 day moving average is $203.61 and its two-hundred day moving average is $218.87. The company has a market capitalization of $12.23 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 1-year low of $158.13 and a 1-year high of $335.40.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS 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%. On average, analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ALGN. Jefferies Financial Group dropped their price objective 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. Morgan Stanley dropped their price objective on Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. Bank of America lifted their target price on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Finally, Evercore ISI lifted their target price on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Align Technology presently has an average rating of “Moderate Buy” and an average target price 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.