Fox Run Management L.L.C. Takes Position in Align Technology, Inc. (NASDAQ:ALGN)

Fox Run Management L.L.C. purchased a new position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,476 shares of the medical equipment provider's stock, valued at approximately $1,142,000.

A number of other institutional investors have also modified their holdings of ALGN. KLP Kapitalforvaltning AS purchased a new position in shares of Align Technology during the 4th quarter worth $4,942,000. Mizuho Securities USA LLC boosted its position in shares of Align Technology by 46.1% in the fourth quarter. Mizuho Securities USA LLC now owns 6,651 shares of the medical equipment provider's stock worth $1,387,000 after acquiring an additional 2,098 shares during the last quarter. Virtu Financial LLC acquired a new position in Align Technology during the fourth quarter worth approximately $3,115,000. Quantbot Technologies LP increased its position in Align Technology by 2,071.5% during the fourth quarter. Quantbot Technologies LP now owns 37,849 shares of the medical equipment provider's stock worth $7,892,000 after purchasing an additional 36,106 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. raised its stake in Align Technology by 6.2% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 4,355 shares of the medical equipment provider's stock worth $908,000 after purchasing an additional 255 shares during the period. Institutional investors and hedge funds own 88.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ALGN. Bank of America lifted their target price on Align Technology from $200.00 to $206.00 and gave the company an "underperform" rating in a report on Friday, December 13th. Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a research note on Thursday, February 6th. Evercore ISI increased their target price on shares of Align Technology from $240.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Morgan Stanley decreased their price objective on shares of Align Technology from $280.00 to $272.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Finally, Piper Sandler restated an "overweight" rating and set a $235.00 target price (down previously from $270.00) on shares of Align Technology in a report on Tuesday, March 18th. One 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $262.64.

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Align Technology Stock Performance

Shares of ALGN stock traded down $0.37 during mid-day trading on Tuesday, reaching $170.00. 570,385 shares of the company were exchanged, compared to its average volume of 803,447. The business's 50 day simple moving average is $197.91 and its 200 day simple moving average is $216.13. The company has a market capitalization of $12.51 billion, a P/E ratio of 30.30, a P/E/G ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a fifty-two week low of $158.13 and a fifty-two week high of $331.64.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its earnings results 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%. On average, 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.