Dynamic Technology Lab Private Ltd Takes Position in Align Technology, Inc. (NASDAQ:ALGN)

Dynamic Technology Lab Private Ltd purchased a new position in Align Technology, Inc. (NASDAQ:ALGN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,655 shares of the medical equipment provider’s stock, valued at approximately $971,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALGN. Geode Capital Management LLC increased its stake in shares of Align Technology by 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,790,014 shares of the medical equipment provider’s stock valued at $372,299,000 after buying an additional 39,209 shares during the period. Ninety One UK Ltd increased its position in Align Technology by 3.7% during the 4th quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider’s stock valued at $254,508,000 after purchasing an additional 43,524 shares during the period. Norges Bank purchased a new position in Align Technology during the 4th quarter valued at about $190,792,000. Meridiem Investment Management Ltd. raised its holdings in shares of Align Technology by 63.7% in the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock valued at $159,470,000 after purchasing an additional 297,472 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its position 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 purchasing an additional 45,484 shares during the period. Institutional investors own 88.43% of the company’s stock.

Analysts Set New Price Targets

ALGN has been the subject of a number of recent research reports. Wells Fargo & Company initiated coverage on shares of Align Technology in a research note on Friday, February 14th. They issued an “overweight” rating and a $255.00 price objective for the company. Piper Sandler restated an “overweight” rating and set a $235.00 price objective (down from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Mizuho decreased their price target on shares of Align Technology from $295.00 to $250.00 and set an “outperform” rating for the company in a research report on Tuesday, March 25th. Finally, Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Align Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.64.

Align Technology Trading Down 0.5 %

Shares of ALGN stock opened at $153.51 on Monday. The company has a market cap of $11.24 billion, a P/E ratio of 27.36, a PEG ratio of 2.24 and a beta of 1.73. The firm has a fifty day moving average price of $186.45 and a 200 day moving average price of $211.38. Align Technology, Inc. has a 12 month low of $138.00 and a 12 month high of $331.64.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) 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%. On average, equities analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current 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.