Align Technology, Inc. (NASDAQ:ALGN) Holdings Raised by AlphaQuest LLC

AlphaQuest LLC increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 49.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,038 shares of the medical equipment provider’s stock after purchasing an additional 673 shares during the quarter. AlphaQuest LLC’s holdings in Align Technology were worth $425,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Swedbank AB boosted its position in shares of Align Technology by 30.1% in the third quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock worth $98,960,000 after buying an additional 90,000 shares during the period. KBC Group NV boosted its position in Align Technology by 11.8% during the 3rd quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock worth $13,595,000 after acquiring an additional 5,663 shares during the period. Nordea Investment Management AB boosted its position in Align Technology by 3.5% during the 4th 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 during the period. Allspring Global Investments Holdings LLC grew its stake in 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 valued at $35,368,000 after acquiring an additional 92,407 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Align Technology by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock valued at $26,900,000 after purchasing an additional 2,717 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on ALGN shares. Mizuho started coverage on Align Technology in a report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective for the company. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. Piper Sandler lowered their price target on Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company began coverage on Align Technology in a report on Friday, February 14th. They issued an “overweight” rating and a $255.00 price objective on the stock. Finally, Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Align Technology currently has an average rating of “Moderate Buy” and an average price target of $269.91.

Align Technology Stock Down 2.5 %

Shares of NASDAQ:ALGN opened at $160.51 on Friday. Align Technology, Inc. has a 12-month low of $158.13 and a 12-month high of $335.40. The business has a 50 day moving average of $204.45 and a 200-day moving average of $219.44. The stock has a market cap of $11.81 billion, a PE ratio of 28.61, a P/E/G ratio of 2.24 and a beta of 1.69.

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

Align Technology Company 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.