Fisher Asset Management LLC Purchases 22,130 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Fisher Asset Management LLC grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 20.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 127,900 shares of the medical equipment provider’s stock after buying an additional 22,130 shares during the period. Fisher Asset Management LLC owned 0.17% of Align Technology worth $26,668,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Private Trust Co. NA increased its position in shares of Align Technology by 113.4% during the fourth 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. VELA Investment Management LLC bought a new stake in shares of Align Technology during the fourth quarter valued at about $278,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new stake in shares of Align Technology during the fourth quarter valued at about $131,000. Versor Investments LP bought a new stake in shares of Align Technology during the fourth quarter valued at about $395,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Align Technology during the fourth quarter valued at about $15,782,000. 88.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ALGN. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and upped their price target for the company from $235.00 to $280.00 in a research report on Monday, January 6th. Morgan Stanley decreased their price objective on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Jefferies Financial Group decreased their price objective on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Finally, Mizuho started coverage on shares of Align Technology in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Align Technology presently has a consensus rating of “Moderate Buy” and an average target price of $269.91.

Align Technology Price Performance

Shares of ALGN opened at $187.03 on Monday. The firm has a market cap of $13.96 billion, a P/E ratio of 33.34, a P/E/G ratio of 2.24 and a beta of 1.67. The stock has a 50 day simple moving average of $211.95 and a two-hundred day simple moving average of $223.44. Align Technology, Inc. has a 1 year low of $183.24 and a 1 year high of $335.40.

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 the consensus estimate 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, equities analysts anticipate 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.