Cibc World Markets Corp Boosts Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Cibc World Markets Corp boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 15.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,091 shares of the medical equipment provider’s stock after acquiring an additional 1,519 shares during the quarter. Cibc World Markets Corp’s holdings in Align Technology were worth $2,313,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ALGN. Natixis Advisors LLC boosted its holdings in Align Technology by 21.8% during the 3rd quarter. Natixis Advisors LLC now owns 18,654 shares of the medical equipment provider’s stock valued at $4,744,000 after acquiring an additional 3,344 shares during the period. Banque Cantonale Vaudoise boosted its holdings in Align Technology by 240.2% during the 3rd quarter. Banque Cantonale Vaudoise now owns 6,909 shares of the medical equipment provider’s stock valued at $1,757,000 after acquiring an additional 4,878 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Align Technology during the 3rd quarter valued at $742,000. Prospera Private Wealth LLC purchased a new position in Align Technology during the 3rd quarter valued at $114,000. Finally, Commerce Bank boosted its holdings in Align Technology by 47.0% during the 3rd quarter. Commerce Bank now owns 3,381 shares of the medical equipment provider’s stock valued at $860,000 after acquiring an additional 1,081 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Piper Sandler reiterated an “overweight” rating and issued a $235.00 target price (down from $270.00) on shares of Align Technology in a report on Tuesday. Jefferies Financial Group lowered their target price on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Finally, Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $266.73.

Align Technology Price Performance

Shares of NASDAQ:ALGN opened at $168.81 on Friday. The business’s 50-day moving average is $199.65 and its 200 day moving average is $217.11. Align Technology, Inc. has a 1 year low of $158.13 and a 1 year high of $335.40. The firm has a market capitalization of $12.42 billion, a P/E ratio of 30.09, a P/E/G ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (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%. On average, analysts expect that Align Technology, Inc. will post 7.98 EPS for the current 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.