Healthcare of Ontario Pension Plan Trust Fund Acquires Shares of 12,000 Align Technology, Inc. (NASDAQ:ALGN)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 12,000 shares of the medical equipment provider’s stock, valued at approximately $3,288,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. DekaBank Deutsche Girozentrale grew its stake in shares of Align Technology by 0.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 14,597 shares of the medical equipment provider’s stock valued at $4,474,000 after acquiring an additional 131 shares in the last quarter. Aviva PLC grew its stake in shares of Align Technology by 242.4% in the third quarter. Aviva PLC now owns 25,341 shares of the medical equipment provider’s stock valued at $7,737,000 after acquiring an additional 17,940 shares in the last quarter. Prudential PLC grew its stake in shares of Align Technology by 80.7% in the third quarter. Prudential PLC now owns 6,107 shares of the medical equipment provider’s stock valued at $1,865,000 after acquiring an additional 2,728 shares in the last quarter. QRG Capital Management Inc. acquired a new position in shares of Align Technology in the third quarter valued at about $944,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new position in shares of Align Technology in the third quarter valued at about $2,144,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Trading Down 4.1 %

NASDAQ ALGN opened at $245.52 on Tuesday. The company has a fifty day simple moving average of $279.46 and a 200 day simple moving average of $282.72. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20. The company has a market cap of $18.48 billion, a P/E ratio of 40.45, a PEG ratio of 4.74 and a beta of 1.62.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.08. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. The business had revenue of $997.43 million during the quarter, compared to the consensus estimate of $971.97 million. Sell-side analysts predict that Align Technology, Inc. will post 7.86 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ALGN shares. UBS Group upped their price objective on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Morgan Stanley increased their target price on shares of Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Robert W. Baird increased their target price on shares of Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 25th. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. Finally, Stifel Nicolaus increased their target price on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $351.00.

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.