Aquatic Capital Management LLC Acquires Shares of 39,316 Align Technology, Inc. (NASDAQ:ALGN)

Aquatic Capital Management LLC purchased a new position in Align Technology, Inc. (NASDAQ:ALGN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 39,316 shares of the medical equipment provider’s stock, valued at approximately $8,198,000. Aquatic Capital Management LLC owned approximately 0.05% of Align Technology as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Align Technology in the 4th quarter valued at approximately $190,792,000. Meridiem Investment Management Ltd. raised its holdings in Align Technology by 63.7% in the fourth quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock valued at $159,470,000 after acquiring an additional 297,472 shares in the last quarter. Senvest Management LLC boosted its stake in Align Technology by 58.1% during the 4th quarter. Senvest Management LLC now owns 726,243 shares of the medical equipment provider’s stock valued at $151,429,000 after acquiring an additional 267,000 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new position in Align Technology during the 4th quarter worth $47,853,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Align Technology in the 4th quarter worth about $42,243,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Ratings Changes

ALGN has been the topic of several research reports. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Hsbc Global Res downgraded shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Friday. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $235.00 to $280.00 in a research note on Monday, January 6th. Finally, Piper Sandler reiterated an “overweight” rating and set a $235.00 price target (down from $270.00) on shares of Align Technology in a research report on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $246.17.

Align Technology Price Performance

Align Technology stock opened at $183.35 on Friday. Align Technology, Inc. has a 12-month low of $141.74 and a 12-month high of $313.29. The stock has a market capitalization of $13.42 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73. The firm has a 50 day simple moving average of $170.00 and a 200-day simple moving average of $202.54.

Align Technology (NASDAQ:ALGN) last issued its quarterly 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 net margin of 10.54% and a return on equity of 13.84%. On average, analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal 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.