KBC Group NV Has $13.60 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

KBC Group NV grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 11.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,458 shares of the medical equipment provider’s stock after purchasing an additional 5,663 shares during the period. KBC Group NV’s holdings in Align Technology were worth $13,595,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Achmea Investment Management B.V. grew its position in Align Technology by 3.4% during the second quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider’s stock worth $2,495,000 after buying an additional 339 shares in the last quarter. Tidal Investments LLC grew its holdings in shares of Align Technology by 122.9% during the 1st quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock worth $1,445,000 after purchasing an additional 2,430 shares in the last quarter. Swedbank AB increased its position in shares of Align Technology by 2.0% in the second quarter. Swedbank AB now owns 299,115 shares of the medical equipment provider’s stock worth $72,215,000 after purchasing an additional 6,005 shares during the period. Baker Avenue Asset Management LP acquired a new position in Align Technology in the third quarter valued at about $4,250,000. Finally, Cetera Investment Advisers lifted its position in Align Technology by 914.2% during the first quarter. Cetera Investment Advisers now owns 12,627 shares of the medical equipment provider’s stock worth $4,140,000 after purchasing an additional 11,382 shares during the period. 88.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on ALGN. Morgan Stanley decreased their target price on shares of Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. StockNews.com upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Evercore ISI cut their target price on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Piper Sandler decreased their price target on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Stifel Nicolaus dropped their price objective on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $276.38.

Align Technology Trading Up 0.9 %

Shares of ALGN stock opened at $223.69 on Friday. The firm has a market capitalization of $16.70 billion, a price-to-earnings ratio of 38.17, a PEG ratio of 5.57 and a beta of 1.65. The business’s 50-day moving average price is $228.85 and its 200-day moving average price is $240.23. Align Technology, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.31 by $0.04. Align Technology had a net margin of 11.15% and a return on equity of 13.99%. The business had revenue of $977.87 million for the quarter, compared to the consensus estimate of $990.05 million. During the same period last year, the company earned $1.62 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts predict that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal year.

Align Technology Company 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.