Certuity LLC Takes Position in Align Technology, Inc. (NASDAQ:ALGN)

Certuity LLC bought a new position in Align Technology, Inc. (NASDAQ:ALGN) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,015 shares of the medical equipment provider’s stock, valued at approximately $212,000.

A number of other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its holdings in shares of Align Technology by 49.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after acquiring an additional 866,663 shares in the last quarter. Geode Capital Management LLC raised its stake in Align Technology by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock valued at $443,810,000 after purchasing an additional 21,605 shares in the last quarter. FMR LLC lifted its position in Align Technology by 43.0% during the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock valued at $310,736,000 after purchasing an additional 367,508 shares during the last quarter. Ninety One UK Ltd grew its stake in shares of Align Technology by 3.7% in 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 buying an additional 43,524 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its holdings in shares of Align Technology by 6.4% in the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 753,026 shares of the medical equipment provider’s stock worth $191,510,000 after buying an additional 45,484 shares during the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Stock Performance

NASDAQ ALGN opened at $204.89 on Friday. Align Technology, Inc. has a 52-week low of $196.09 and a 52-week high of $335.40. The firm’s 50 day moving average price is $219.74 and its 200-day moving average price is $225.21. The company has a market cap of $15.30 billion, a PE ratio of 36.52, a P/E/G ratio of 4.79 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last issued 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, analysts forecast that Align Technology, Inc. will post 8.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALGN has been the subject of a number of analyst reports. Stifel Nicolaus lowered their price target on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Robert W. Baird dropped their target price on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Piper Sandler cut their target price on Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Bank of America raised their price target on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Finally, Evercore ISI boosted their price objective on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Align Technology has an average rating of “Moderate Buy” and an average target price of $271.40.

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.