Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases 7,500 Shares of Align Technology, Inc. $ALGN

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 59.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,208 shares of the medical equipment provider’s stock after acquiring an additional 7,500 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Align Technology were worth $2,530,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Procyon Advisors LLC grew its stake in Align Technology by 48.3% in the 3rd quarter. Procyon Advisors LLC now owns 2,010 shares of the medical equipment provider’s stock valued at $252,000 after purchasing an additional 655 shares during the period. TD Private Client Wealth LLC boosted its holdings in shares of Align Technology by 135.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 238 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 137 shares during the last quarter. Quent Capital LLC bought a new position in Align Technology during the third quarter valued at about $30,000. Nordea Investment Management AB increased its holdings in Align Technology by 20.7% during the third quarter. Nordea Investment Management AB now owns 770,360 shares of the medical equipment provider’s stock worth $95,178,000 after buying an additional 132,019 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in Align Technology by 27.3% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,143 shares of the medical equipment provider’s stock worth $394,000 after acquiring an additional 674 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Stock Performance

Shares of ALGN opened at $171.49 on Monday. The stock’s 50-day simple moving average is $155.08 and its 200 day simple moving average is $151.06. The stock has a market capitalization of $12.30 billion, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 1.94 and a beta of 1.83. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $237.23.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.23. Align Technology had a return on equity of 13.96% and a net margin of 9.50%.The business had revenue of $995.69 million during the quarter, compared to analyst estimates of $980.75 million. During the same quarter in the previous year, the firm earned $2.35 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, research analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ALGN shares. Jefferies Financial Group raised their price target on shares of Align Technology from $140.00 to $155.00 in a research note on Thursday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $200.00 target price (up from $190.00) on shares of Align Technology in a research report on Thursday, October 30th. Leerink Partners boosted their target price on Align Technology from $172.00 to $189.00 in a research note on Thursday, October 30th. HSBC increased their price target on Align Technology from $140.00 to $150.00 in a research note on Friday, October 31st. Finally, Zacks Research raised Align Technology from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 30th. Six analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Align Technology presently has an average rating of “Hold” and an average target price of $172.18.

Align Technology Company Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.