ING Groep NV increased its position in Align Technology, Inc. (NASDAQ:ALGN) by 346.8% in the fourth quarter, HoldingsChannel reports. The firm owned 10,876 shares of the medical equipment provider’s stock after purchasing an additional 8,442 shares during the quarter. ING Groep NV’s holdings in Align Technology were worth $2,417,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ALGN. Whittier Trust Co. acquired a new position in Align Technology in the third quarter worth about $107,000. Meritage Portfolio Management acquired a new position in Align Technology in the fourth quarter worth about $201,000. Dai Ichi Life Insurance Company Ltd acquired a new position in Align Technology in the third quarter worth about $211,000. Sigma Investment Counselors Inc. acquired a new position in Align Technology in the third quarter worth about $214,000. Finally, Ballentine Partners LLC acquired a new position in Align Technology in the third quarter worth about $215,000. Institutional investors and hedge funds own 82.50% of the company’s stock.

Align Technology, Inc. (ALGN) opened at $229.37 on Friday. Align Technology, Inc. has a 52 week low of $95.17 and a 52 week high of $287.32. The company has a market capitalization of $18,390.43, a P/E ratio of 80.76, a price-to-earnings-growth ratio of 1.75 and a beta of 1.48.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.23. The business had revenue of $421.30 million during the quarter, compared to the consensus estimate of $395.88 million. Align Technology had a return on equity of 28.55% and a net margin of 15.71%. The business’s revenue was up 43.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.59 earnings per share. research analysts forecast that Align Technology, Inc. will post 4.49 EPS for the current fiscal year.

A number of brokerages have commented on ALGN. Stifel Nicolaus lifted their target price on Align Technology from $265.00 to $295.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Zacks Investment Research upgraded Align Technology from a “hold” rating to a “buy” rating and set a $318.00 target price for the company in a research note on Monday, January 29th. Stephens downgraded Align Technology from an “overweight” rating to an “equal weight” rating and set a $230.00 target price for the company. in a research note on Friday, January 19th. Credit Suisse Group lifted their target price on Align Technology from $276.00 to $290.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Finally, Leerink Swann lifted their target price on Align Technology from $300.00 to $305.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $258.54.

In other news, VP Emory Wright sold 5,025 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $263.68, for a total transaction of $1,324,992.00. Following the completion of the transaction, the vice president now directly owns 80,762 shares in the company, valued at $21,295,324.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO John Morici sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $255.00, for a total value of $382,500.00. Following the transaction, the chief financial officer now owns 1,544 shares of the company’s stock, valued at $393,720. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,529 shares of company stock valued at $22,254,743. Insiders own 1.60% of the company’s stock.

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Align Technology Profile

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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