Banco Bilbao Vizcaya Argentaria S.A. Has $1.17 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Banco Bilbao Vizcaya Argentaria S.A. cut its stake in Align Technology, Inc. (NASDAQ:ALGN) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,667 shares of the medical equipment provider’s stock after selling 290 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Align Technology were worth $1,174,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Nordea Investment Management AB raised its stake in Align Technology by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock worth $56,870,000 after acquiring an additional 9,139 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Align Technology by 119.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider’s stock worth $35,368,000 after purchasing an additional 92,407 shares in the last quarter. Swedbank AB lifted its holdings in Align Technology by 25.0% during the 4th quarter. Swedbank AB now owns 486,267 shares of the medical equipment provider’s stock valued at $101,392,000 after purchasing an additional 97,152 shares during the last quarter. Principal Securities Inc. lifted its holdings in Align Technology by 34.5% during the 4th quarter. Principal Securities Inc. now owns 1,881 shares of the medical equipment provider’s stock valued at $392,000 after purchasing an additional 483 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Align Technology by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider’s stock worth $1,626,000 after buying an additional 91 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ALGN shares. UBS Group cut their target price on shares of Align Technology from $240.00 to $215.00 and set a “neutral” rating for the company in a research note on Thursday. Piper Sandler reissued an “overweight” rating and issued a $235.00 price objective (down previously from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. Evercore ISI increased their target price on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Finally, Hsbc Global Res lowered shares of Align Technology from a “strong-buy” rating to a “hold” rating in a report on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $246.17.

Align Technology Stock Down 0.5 %

NASDAQ:ALGN opened at $183.35 on Monday. The stock’s fifty day simple moving average is $170.00 and its 200-day simple moving average is $202.35. The firm has a market capitalization of $13.42 billion, a P/E ratio of 32.68, a P/E/G ratio of 2.24 and a beta of 1.73. Align Technology, Inc. has a 12-month low of $141.74 and a 12-month high of $313.29.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. As a group, equities research analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current year.

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.