Entropy Technologies LP Invests $1.81 Million in Align Technology, Inc. (NASDAQ:ALGN)

Entropy Technologies LP acquired a new position in Align Technology, Inc. (NASDAQ:ALGN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 8,689 shares of the medical equipment provider’s stock, valued at approximately $1,812,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Empowered Funds LLC raised its stake in Align Technology by 32.4% in the fourth quarter. Empowered Funds LLC now owns 1,280 shares of the medical equipment provider’s stock valued at $267,000 after buying an additional 313 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Align Technology by 2.7% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 7,271 shares of the medical equipment provider’s stock valued at $1,516,000 after acquiring an additional 192 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Align Technology by 22.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,369 shares of the medical equipment provider’s stock valued at $2,174,000 after acquiring an additional 1,869 shares in the last quarter. Ninety One SA PTY Ltd boosted its stake in Align Technology by 188.5% in the 4th quarter. Ninety One SA PTY Ltd now owns 2,423 shares of the medical equipment provider’s stock worth $505,000 after purchasing an additional 1,583 shares in the last quarter. Finally, Ninety One UK Ltd grew its position in Align Technology by 3.7% during the 4th 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 during the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALGN has been the subject of a number of research analyst reports. Jefferies Financial Group decreased their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Stifel Nicolaus lowered their price target on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Evercore ISI increased their price objective on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday. Piper Sandler reduced their price objective on Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Morgan Stanley dropped their target price on Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $271.40.

Align Technology Price Performance

NASDAQ:ALGN opened at $210.55 on Monday. The company has a 50 day moving average price of $221.25 and a 200-day moving average price of $225.66. Align Technology, Inc. has a 1-year low of $196.09 and a 1-year high of $335.40. The firm has a market cap of $15.72 billion, a price-to-earnings ratio of 37.53, a price-to-earnings-growth ratio of 4.79 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates 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, sell-side analysts anticipate that Align Technology, Inc. will post 8.09 earnings per share for the current fiscal 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.