Aigen Investment Management LP Acquires Shares of 1,674 Align Technology, Inc. (NASDAQ:ALGN)

Aigen Investment Management LP acquired a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) during the 4th quarter, HoldingsChannel reports. The fund acquired 1,674 shares of the medical equipment provider’s stock, valued at approximately $349,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALGN. Impax Asset Management Group plc lifted its holdings in Align Technology by 26.8% during the third quarter. Impax Asset Management Group plc now owns 114,057 shares of the medical equipment provider’s stock valued at $29,007,000 after purchasing an additional 24,115 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Align Technology by 2.7% during the third quarter. Principal Financial Group Inc. now owns 82,020 shares of the medical equipment provider’s stock valued at $20,859,000 after purchasing an additional 2,168 shares in the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in Align Technology during the third quarter valued at $205,000. Portside Wealth Group LLC purchased a new position in Align Technology during the third quarter valued at $238,000. Finally, ARK Investment Management LLC lifted its holdings in Align Technology by 5.3% during the third quarter. ARK Investment Management LLC now owns 6,413 shares of the medical equipment provider’s stock valued at $1,631,000 after purchasing an additional 322 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Wells Fargo & Company started coverage on shares of Align Technology in a report on Friday, February 14th. They set an “overweight” rating and a $255.00 price objective on the stock. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. Piper Sandler decreased their price target on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Jefferies Financial Group decreased their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. Finally, Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and a consensus price target of $269.91.

Align Technology Trading Up 1.0 %

Align Technology stock opened at $173.75 on Friday. Align Technology, Inc. has a 12-month low of $167.32 and a 12-month high of $335.40. The stock has a market cap of $12.79 billion, a P/E ratio of 30.97, a PEG ratio of 2.24 and a beta of 1.69. The company has a 50-day moving average price of $208.02 and a 200 day moving average price of $221.29.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data 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%. As a group, analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

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.