Stephens Inc. AR Buys 175 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Stephens Inc. AR lifted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,517 shares of the medical equipment provider’s stock after purchasing an additional 175 shares during the quarter. Stephens Inc. AR’s holdings in Align Technology were worth $733,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALGN. Exchange Traded Concepts LLC raised its stake in shares of Align Technology by 26.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,062 shares of the medical equipment provider’s stock valued at $1,033,000 after purchasing an additional 847 shares during the period. Creative Planning increased its stake in Align Technology by 7.9% in the 3rd quarter. Creative Planning now owns 11,144 shares of the medical equipment provider’s stock worth $2,834,000 after acquiring an additional 817 shares during the last quarter. Beech Hill Advisors Inc. increased its stake in Align Technology by 91.4% in the 3rd quarter. Beech Hill Advisors Inc. now owns 11,567 shares of the medical equipment provider’s stock worth $2,942,000 after acquiring an additional 5,523 shares during the last quarter. nVerses Capital LLC bought a new position in Align Technology in the 3rd quarter worth about $229,000. Finally, Bleakley Financial Group LLC increased its stake in Align Technology by 30.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 1,114 shares of the medical equipment provider’s stock worth $283,000 after acquiring an additional 261 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Price Performance

Shares of ALGN stock opened at $204.89 on Friday. The stock has a market capitalization 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, Inc. has a 1-year low of $196.09 and a 1-year high of $335.40. The business has a 50-day moving average of $219.74 and a 200 day moving average of $225.21.

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 the consensus estimate of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. Analysts anticipate that Align Technology, Inc. will post 8.09 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on ALGN. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Mizuho started coverage on Align Technology in a report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price objective for the company. Piper Sandler cut their price objective on Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Stifel Nicolaus cut their price objective on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Finally, Morgan Stanley cut their price objective on Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.