Headlands Technologies LLC Purchases Shares of 10,706 Align Technology, Inc. (NASDAQ:ALGN)

Headlands Technologies LLC purchased a new position in Align Technology, Inc. (NASDAQ:ALGN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,706 shares of the medical equipment provider’s stock, valued at approximately $2,232,000.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC increased its holdings in Align Technology by 10,700.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 107 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Align Technology in the third quarter worth $32,000. Picton Mahoney Asset Management raised its position in shares of Align Technology by 69.9% during the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 58 shares during the period. Private Trust Co. NA lifted its stake in shares of Align Technology by 113.4% during the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 93 shares in the last quarter. Finally, Quarry LP lifted its stake in shares of Align Technology by 74.8% during the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 95 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ALGN shares. Wells Fargo & Company started coverage on Align Technology in a report on Friday, February 14th. They set an “overweight” rating and a $255.00 price target on the stock. Bank of America lifted their target price on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Morgan Stanley reduced their price objective on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Evercore ISI upped their target price on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $262.64.

Align Technology Price Performance

NASDAQ:ALGN opened at $158.08 on Wednesday. The firm has a market capitalization of $11.63 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.24 and a beta of 1.69. The business has a 50 day simple moving average of $191.02 and a 200-day simple moving average of $213.38. Align Technology, Inc. has a 1 year low of $153.77 and a 1 year high of $331.64.

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