E Fund Management Co. Ltd. Buys 678 Shares of Align Technology, Inc. (NASDAQ:ALGN)

E Fund Management Co. Ltd. lifted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 79.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,533 shares of the medical equipment provider’s stock after buying an additional 678 shares during the period. E Fund Management Co. Ltd.’s holdings in Align Technology were worth $320,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in shares of Align Technology in the fourth quarter valued at approximately $42,243,000. Arizona State Retirement System boosted its stake in shares of Align Technology by 0.5% in the fourth quarter. Arizona State Retirement System now owns 20,584 shares of the medical equipment provider’s stock valued at $4,292,000 after buying an additional 93 shares during the period. Aigen Investment Management LP bought a new stake in Align Technology during the fourth quarter worth $349,000. Proficio Capital Partners LLC bought a new stake in Align Technology during the fourth quarter worth $15,782,000. Finally, Victory Capital Management Inc. lifted its stake in Align Technology by 21.7% during the fourth quarter. Victory Capital Management Inc. now owns 163,102 shares of the medical equipment provider’s stock worth $34,008,000 after purchasing an additional 29,066 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Jefferies Financial Group cut their target price on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. Wells Fargo & Company assumed coverage on Align Technology in a research note on Friday, February 14th. They set an “overweight” rating and a $255.00 target price for the company. Mizuho assumed coverage on Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 target price for the company. Finally, Morgan Stanley cut their target price on Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. One equities research 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 stock. According to data from MarketBeat, Align Technology presently has a consensus rating of “Moderate Buy” and an average target price of $269.91.

Align Technology Stock Performance

Shares of NASDAQ:ALGN opened at $173.75 on Friday. The company has a market capitalization of $12.79 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 52-week low of $167.32 and a 52-week high of $335.40. The company has a fifty day moving average of $208.02 and a 200-day moving average of $221.29.

Align Technology (NASDAQ:ALGN) last posted 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, equities analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

About Align Technology

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.