Align Technology, Inc. (NASDAQ:ALGN) Holdings Trimmed by Grandeur Peak Global Advisors LLC

Grandeur Peak Global Advisors LLC lowered its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 85.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,285 shares of the medical equipment provider’s stock after selling 19,356 shares during the period. Grandeur Peak Global Advisors LLC’s holdings in Align Technology were worth $685,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank acquired a new stake in Align Technology during the 4th quarter worth about $190,792,000. Meridiem Investment Management Ltd. boosted its holdings in shares of Align Technology by 63.7% during the fourth quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock worth $159,470,000 after purchasing an additional 297,472 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in Align Technology during the fourth quarter valued at approximately $47,853,000. Raymond James Financial Inc. acquired a new position in Align Technology in the 4th quarter valued at approximately $42,243,000. Finally, Invesco Ltd. lifted its position in Align Technology by 17.1% in the 4th quarter. Invesco Ltd. now owns 1,082,162 shares of the medical equipment provider’s stock worth $225,642,000 after buying an additional 158,312 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Up 2.5 %

ALGN opened at $164.14 on Friday. Align Technology, Inc. has a 12-month low of $141.74 and a 12-month high of $327.49. The firm has a market capitalization of $12.02 billion, a P/E ratio of 29.26, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73. The stock’s 50 day moving average price is $177.26 and its two-hundred day moving average price is $207.35.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. As a group, analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALGN. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Mizuho reduced their price target on Align Technology from $295.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, March 25th. Evercore ISI increased their price objective on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Wells Fargo & Company initiated coverage on shares of Align Technology in a research note on Friday, February 14th. They issued an “overweight” rating and a $255.00 target price for the company. Finally, Morgan Stanley dropped their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Align Technology presently 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.