Northern Trust Corp Has $153.66 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Northern Trust Corp increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 13.3% during the 4th quarter, Holdings Channel reports. The fund owned 736,936 shares of the medical equipment provider’s stock after buying an additional 86,493 shares during the quarter. Northern Trust Corp’s holdings in Align Technology were worth $153,659,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management increased its holdings in shares of Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 58 shares in the last quarter. GKV Capital Management Co. Inc. bought a new stake in Align Technology during the 4th quarter worth approximately $31,000. Aster Capital Management DIFC Ltd acquired a new stake in Align Technology during the 4th quarter worth approximately $35,000. Private Trust Co. NA lifted its stake in Align Technology by 113.4% in the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 93 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Align Technology by 212.2% in the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after buying an additional 157 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Evercore ISI boosted their price objective on shares of Align Technology from $165.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday. Mizuho cut their price target on Align Technology from $250.00 to $245.00 and set an “outperform” rating on the stock in a report on Tuesday. Hsbc Global Res downgraded Align Technology from a “strong-buy” rating to a “hold” rating in a report on Friday, April 25th. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company decreased their price target on shares of Align Technology from $255.00 to $246.00 and set an “overweight” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $241.25.

Align Technology Trading Up 1.7 %

ALGN opened at $179.82 on Friday. The stock’s fifty day simple moving average is $168.42 and its 200 day simple moving average is $201.12. Align Technology, Inc. has a 1-year low of $141.74 and a 1-year high of $295.69. The stock has a market cap of $13.16 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, April 30th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.13. Align Technology had a net margin of 10.54% and a return on equity of 13.84%. The company had revenue of $979.26 million during the quarter, compared to analysts’ expectations of $977.90 million. During the same quarter last year, the company posted $2.14 EPS. Align Technology’s quarterly revenue was down 1.8% compared to the same quarter last year. Equities analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current year.

About Align Technology

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.