Royal London Asset Management Ltd. Has $6.15 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Royal London Asset Management Ltd. increased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,511 shares of the medical equipment provider’s stock after acquiring an additional 1,683 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Align Technology were worth $6,153,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. True Wealth Design LLC increased its holdings in shares of Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 107 shares during the period. Picton Mahoney Asset Management lifted its stake in shares of Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 58 shares during the period. Neo Ivy Capital Management acquired a new stake in Align Technology during the third quarter worth about $32,000. Private Trust Co. NA increased its stake in Align Technology by 113.4% during the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 93 shares during the period. Finally, Versant Capital Management Inc raised its holdings in 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. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Trading Down 0.1 %

NASDAQ:ALGN opened at $168.61 on Monday. The stock has a market capitalization of $12.41 billion, a P/E ratio of 30.06, a price-to-earnings-growth 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 $331.64. The firm has a 50 day moving average of $198.78 and a 200-day moving average of $216.53.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data 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%. As a group, analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALGN. Bank of America lifted their price objective on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Morgan Stanley lowered their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Wells Fargo & Company began coverage on shares of Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 target price on the stock. Finally, Mizuho assumed coverage on shares of Align Technology in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price target for the company. One 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.