Impax Asset Management Group plc Acquires 24,115 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Impax Asset Management Group plc boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 26.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,057 shares of the medical equipment provider’s stock after purchasing an additional 24,115 shares during the period. Impax Asset Management Group plc’s holdings in Align Technology were worth $29,007,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Achmea Investment Management B.V. boosted its stake in Align Technology by 3.4% in the 2nd quarter. Achmea Investment Management B.V. now owns 10,335 shares of the medical equipment provider’s stock valued at $2,495,000 after buying an additional 339 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of Align Technology by 122.9% in the 1st quarter. Tidal Investments LLC now owns 4,408 shares of the medical equipment provider’s stock valued at $1,445,000 after purchasing an additional 2,430 shares in the last quarter. Swedbank AB grew its holdings in shares of Align Technology by 2.0% in the 2nd 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 last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of Align Technology during the 1st quarter worth about $2,006,000. Finally, Cetera Investment Advisers grew its stake 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 buying an additional 11,382 shares during the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ALGN. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Monday. StockNews.com raised Align Technology from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Evercore ISI reduced their price objective on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Piper Sandler reduced their target price on shares of 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 lowered their target price on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $276.38.

Align Technology Stock Up 1.1 %

Shares of ALGN stock opened at $210.78 on Tuesday. The company has a market capitalization of $15.75 billion, a price-to-earnings ratio of 35.97, a P/E/G ratio of 4.84 and a beta of 1.65. Align Technology, Inc. has a 12-month low of $186.01 and a 12-month high of $335.40. The firm has a fifty day moving average of $230.63 and a 200-day moving average of $244.77.

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

Insider Transactions at Align Technology

In other Align Technology news, Director C Raymond Larkin, Jr. acquired 6,500 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were acquired at an average price of $235.33 per share, with a total value of $1,529,645.00. Following the completion of the transaction, the director now directly owns 28,247 shares in the company, valued at $6,647,366.51. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.62% of the company’s stock.

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.