Align Technology, Inc. (NASDAQ:ALGN) Shares Acquired by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. increased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,355 shares of the medical equipment provider’s stock after acquiring an additional 255 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Align Technology were worth $908,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Picton Mahoney Asset Management lifted its stake in shares of Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 58 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Align Technology by 9.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 766 shares of the medical equipment provider’s stock worth $158,000 after acquiring an additional 64 shares in the last quarter. Beech Hill Advisors Inc. lifted its stake in shares of Align Technology by 0.6% in the fourth quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider’s stock worth $2,425,000 after acquiring an additional 65 shares in the last quarter. New York Life Investment Management LLC raised its stake in Align Technology by 0.7% during the fourth quarter. New York Life Investment Management LLC now owns 9,406 shares of the medical equipment provider’s stock valued at $1,961,000 after buying an additional 68 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Align Technology by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider’s stock valued at $1,626,000 after buying an additional 91 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Bank of America upped their price objective on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Wells Fargo & Company assumed coverage on Align Technology in a research note on Friday, February 14th. They set an “overweight” rating and a $255.00 price objective on the stock. Mizuho assumed coverage on Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective on the stock. Finally, Jefferies Financial Group cut their price objective on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Align Technology presently has an average rating of “Moderate Buy” and a consensus price target of $266.73.

Align Technology Price Performance

Shares of ALGN stock opened at $168.61 on Friday. Align Technology, Inc. has a 12-month low of $158.13 and a 12-month high of $331.64. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. The business has a 50 day simple moving average of $198.78 and a 200 day simple moving average of $216.64.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 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.