Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Richard W. Paul & Associates LLC

Richard W. Paul & Associates LLC raised its position in Align Technology, Inc. (NASDAQ:ALGN) by 4.0% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,920 shares of the medical equipment provider’s stock after purchasing an additional 111 shares during the period. Richard W. Paul & Associates LLC’s holdings in Align Technology were worth $609,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Empirical Finance LLC increased its holdings in Align Technology by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock valued at $632,000 after acquiring an additional 50 shares in the last quarter. Crestwood Advisors Group LLC increased its stake in shares of Align Technology by 6.6% during the 3rd quarter. Crestwood Advisors Group LLC now owns 1,000 shares of the medical equipment provider’s stock worth $254,000 after purchasing an additional 62 shares in the last quarter. Beech Hill Advisors Inc. raised its position in shares of Align Technology by 0.6% during the 4th quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider’s stock worth $2,425,000 after purchasing an additional 65 shares during the last quarter. New York Life Investment Management LLC raised its position in shares of Align Technology by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 9,406 shares of the medical equipment provider’s stock worth $1,961,000 after purchasing an additional 68 shares during the last quarter. Finally, Covestor Ltd grew its holdings in Align Technology by 26.6% during the 3rd quarter. Covestor Ltd now owns 362 shares of the medical equipment provider’s stock valued at $92,000 after buying an additional 76 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of NASDAQ:ALGN opened at $187.03 on Friday. The firm has a market capitalization of $13.96 billion, a PE ratio of 33.34, a P/E/G ratio of 2.24 and a beta of 1.67. Align Technology, Inc. has a 12 month low of $183.24 and a 12 month high of $335.40. The business has a 50-day moving average of $211.95 and a two-hundred day moving average of $223.39.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 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%. As a group, research analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Bank of America boosted their price target on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Mizuho started coverage on shares of Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 target price for the company. Evercore ISI raised their price target on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $235.00 to $280.00 in a research report on Monday, January 6th. Finally, Piper Sandler decreased their target price on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $269.91.

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.