Align Technology, Inc. (NASDAQ:ALGN) Shares Bought by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 115,104 shares of the medical equipment provider’s stock after purchasing an additional 5,518 shares during the quarter. ArrowMark Colorado Holdings LLC owned approximately 0.15% of Align Technology worth $24,000,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Wahed Invest LLC grew its holdings in Align Technology by 5.8% in the 4th quarter. Wahed Invest LLC now owns 1,924 shares of the medical equipment provider’s stock valued at $401,000 after buying an additional 105 shares during the period. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Align Technology in the fourth quarter worth approximately $400,000. Keel Point LLC purchased a new stake in Align Technology in the fourth quarter valued at approximately $210,000. Freestone Grove Partners LP acquired a new position in Align Technology during the fourth quarter worth approximately $29,059,000. Finally, Schonfeld Strategic Advisors LLC raised its stake in Align Technology by 1,679.5% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 35,110 shares of the medical equipment provider’s stock worth $7,321,000 after purchasing an additional 33,137 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ALGN shares. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and set a $250.00 price target (up from $235.00) on shares of Align Technology in a research report on Thursday. Finally, Jefferies Financial Group dropped their price objective on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Align Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $241.25.

Align Technology Trading Up 1.7 %

Shares of NASDAQ:ALGN opened at $179.82 on Friday. Align Technology, Inc. has a 12-month low of $141.74 and a 12-month high of $295.69. The firm has a market cap of $13.16 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73. The company has a fifty day simple moving average of $168.42 and a 200 day simple moving average of $201.12.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, April 30th. The medical equipment provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.00 by $0.13. Align Technology had a net margin of 10.54% and a return on equity of 13.84%. The business had revenue of $979.26 million for the quarter, compared to analysts’ expectations of $977.90 million. During the same quarter last year, the company posted $2.14 earnings per share. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, equities research analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal 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.