Mizuho Markets Cayman LP Buys Shares of 1,146 Align Technology, Inc. (NASDAQ:ALGN)

Mizuho Markets Cayman LP acquired a new position in Align Technology, Inc. (NASDAQ:ALGN) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,146 shares of the medical equipment provider’s stock, valued at approximately $239,000. Align Technology makes up 0.5% of Mizuho Markets Cayman LP’s holdings, making the stock its 19th largest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in shares of Align Technology by 49.0% during the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after purchasing an additional 866,663 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Align Technology by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock valued at $443,810,000 after buying an additional 21,605 shares during the last quarter. FMR LLC lifted its stake in Align Technology by 43.0% in the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock valued at $310,736,000 after acquiring an additional 367,508 shares during the last quarter. Ninety One UK Ltd boosted its holdings in Align Technology by 3.7% in the fourth quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider’s stock worth $254,508,000 after purchasing an additional 43,524 shares in the last quarter. Finally, Meridiem Investment Management Ltd. boosted its stake in shares of Align Technology by 63.7% during the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock worth $159,470,000 after acquiring an additional 297,472 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Trading Down 0.1 %

Shares of NASDAQ:ALGN opened at $168.61 on Friday. The business has a 50-day moving average price of $198.78 and a two-hundred day moving average price of $216.57. Align Technology, Inc. has a 1-year low of $158.13 and a 1-year high of $331.64. The stock has a market capitalization of $12.41 billion, a P/E ratio of 30.06, a P/E/G ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share 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%. As a group, equities analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on ALGN shares. Evercore ISI upped their price objective on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Morgan Stanley decreased their price objective on Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. 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 note on Friday, December 13th. 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 for the company. Finally, Mizuho started coverage on shares of Align Technology in a report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $266.73.

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.