Align Technology, Inc. (NASDAQ:ALGN) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC lifted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,790,014 shares of the medical equipment provider’s stock after purchasing an additional 39,209 shares during the quarter. Geode Capital Management LLC owned 2.40% of Align Technology worth $372,299,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ALGN. Public Sector Pension Investment Board increased its stake in Align Technology by 11.8% during the 3rd quarter. Public Sector Pension Investment Board now owns 2,839 shares of the medical equipment provider’s stock valued at $722,000 after buying an additional 300 shares during the period. Benjamin Edwards Inc. increased its stake in shares of Align Technology by 240.4% during the third quarter. Benjamin Edwards Inc. now owns 919 shares of the medical equipment provider’s stock valued at $234,000 after acquiring an additional 649 shares during the period. Investment Management Corp of Ontario raised its holdings in Align Technology by 42.6% during the third quarter. Investment Management Corp of Ontario now owns 2,342 shares of the medical equipment provider’s stock worth $596,000 after purchasing an additional 700 shares in the last quarter. Quarry LP boosted its stake in Align Technology by 74.8% during the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock valued at $56,000 after purchasing an additional 95 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its stake in Align Technology by 34.3% during the 3rd quarter. Quantinno Capital Management LP now owns 20,091 shares of the medical equipment provider’s stock valued at $5,110,000 after purchasing an additional 5,130 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Price Performance

NASDAQ ALGN opened at $153.51 on Friday. The company has a 50 day simple moving average of $186.45 and a 200-day simple moving average of $211.96. Align Technology, Inc. has a 52-week low of $143.00 and a 52-week high of $331.64. The firm has a market capitalization of $11.24 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73.

Align Technology (NASDAQ:ALGN) last released 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 return on equity of 13.84% and a net margin of 10.54%. On average, analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

Analyst Upgrades and Downgrades

ALGN has been the subject of several research analyst reports. Jefferies Financial Group cut their price objective on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Bank of America raised their price objective on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $262.64.

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.