FIL Ltd Has $13.58 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

FIL Ltd raised its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 46.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 65,128 shares of the medical equipment provider’s stock after purchasing an additional 20,757 shares during the period. FIL Ltd’s holdings in Align Technology were worth $13,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in ALGN. Picton Mahoney Asset Management raised its stake in Align Technology by 69.9% during 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. Neo Ivy Capital Management bought a new position in shares of Align Technology in the third quarter worth about $32,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Align Technology during the fourth quarter valued at $35,000. Private Trust Co. NA raised its holdings in Align Technology by 113.4% during the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 93 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in Align Technology by 212.2% during the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after purchasing an additional 157 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

ALGN has been the subject of several recent research reports. Bank of America upped their target price on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Evercore ISI lifted their price objective on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Mizuho lowered their target price on shares of Align Technology from $295.00 to $250.00 and set an “outperform” rating for the company in a research note on Tuesday, March 25th. Piper Sandler reiterated an “overweight” rating and set a $235.00 target price (down from $270.00) on shares of Align Technology in a report on Tuesday, March 18th. Finally, Morgan Stanley reduced their target price on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Align Technology presently has an average rating of “Moderate Buy” and a consensus target price of $262.64.

Align Technology Stock Performance

Align Technology stock opened at $164.14 on Friday. The stock has a 50-day simple moving average of $177.26 and a 200 day simple moving average of $207.35. The stock has a market capitalization of $12.02 billion, a P/E ratio of 29.26, a PEG ratio of 2.24 and a beta of 1.73. Align Technology, Inc. has a 52 week low of $141.74 and a 52 week high of $327.49.

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