Stevens Capital Management LP Makes New $470,000 Investment in Align Technology, Inc. (NASDAQ:ALGN)

Stevens Capital Management LP purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,252 shares of the medical equipment provider’s stock, valued at approximately $470,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. True Wealth Design LLC grew its holdings in shares of Align Technology by 10,700.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 107 shares during the period. Neo Ivy Capital Management acquired a new position in shares of Align Technology in the 3rd quarter valued at $32,000. Picton Mahoney Asset Management grew its holdings in shares of Align Technology by 69.9% in the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 58 shares during the period. Private Trust Co. NA grew its holdings in shares of Align Technology by 113.4% in the 4th 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 during the period. Finally, Quarry LP grew its holdings in shares of Align Technology by 74.8% in the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Performance

Shares of ALGN stock opened at $168.61 on Monday. The firm’s 50-day moving average is $198.78 and its 200-day moving average is $216.53. The stock has a market cap of $12.41 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 52-week low of $158.13 and a 52-week high of $331.64.

Align Technology (NASDAQ:ALGN) last issued its earnings results 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%. Sell-side analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Analysts Set New Price Targets

ALGN has been the subject of several research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $235.00 price target (down previously from $270.00) on shares of Align Technology in a report on Tuesday, March 18th. Jefferies Financial Group reduced their target price on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company assumed coverage on shares of Align Technology in a research note on Friday, February 14th. They issued an “overweight” rating and a $255.00 target price for the company. Mizuho assumed coverage on shares of Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 target price for the company. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $266.73.

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.