D.A. Davidson & CO. Raises Holdings in Align Technology, Inc. (NASDAQ:ALGN)

D.A. Davidson & CO. boosted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,530 shares of the medical equipment provider’s stock after purchasing an additional 194 shares during the quarter. D.A. Davidson & CO.’s holdings in Align Technology were worth $1,570,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Wellington Management Group LLP increased its holdings in shares of Align Technology by 49.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after acquiring an additional 866,663 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of Align Technology in the 3rd quarter valued at about $137,287,000. FMR LLC increased its holdings in shares of Align Technology by 43.0% in the 3rd 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. Point72 Asset Management L.P. increased its holdings in shares of Align Technology by 96.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock valued at $171,493,000 after acquiring an additional 330,807 shares during the last quarter. Finally, Meridiem Investment Management Ltd. increased its holdings in shares of Align Technology by 63.7% in the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock valued at $159,470,000 after acquiring an additional 297,472 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Trading Down 3.9 %

Align Technology stock opened at $190.43 on Friday. Align Technology, Inc. has a twelve month low of $186.82 and a twelve month high of $335.40. The stock has a 50 day moving average of $215.05 and a two-hundred day moving average of $224.29. The stock has a market capitalization of $14.22 billion, a price-to-earnings ratio of 33.94, a PEG ratio of 2.33 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results 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%. Equities analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Wells Fargo & Company started coverage on Align Technology in a research report on Friday, February 14th. They issued an “overweight” rating and a $255.00 target price for the company. Piper Sandler decreased their target price on Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Leerink Partnrs raised Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Finally, Morgan Stanley decreased their target price on Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $269.91.

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.