Lbp Am Sa Invests $1.35 Million in Align Technology, Inc. (NASDAQ:ALGN)

LBP AM SA acquired a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 6,486 shares of the medical equipment provider's stock, valued at approximately $1,352,000.

Other institutional investors also recently bought and sold shares of the company. True Wealth Design LLC boosted its holdings in shares of Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider's stock valued at $27,000 after acquiring an additional 107 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Align Technology during the 3rd quarter valued at about $32,000. Private Trust Co. NA boosted its holdings in shares of Align Technology by 113.4% during the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock valued at $36,000 after acquiring an additional 93 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Align Technology by 212.2% during the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider's stock valued at $48,000 after acquiring an additional 157 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Align Technology during the 4th quarter valued at about $52,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Stock Up 1.6 %

Align Technology stock traded up $2.67 during mid-day trading on Thursday, reaching $168.81. 1,228,042 shares of the company's stock traded hands, compared to its average volume of 796,153. Align Technology, Inc. has a 12-month low of $158.13 and a 12-month high of $335.40. The company has a market cap of $12.42 billion, a price-to-earnings ratio of 30.09, a PEG ratio of 2.24 and a beta of 1.69. The stock has a 50 day moving average of $200.58 and a two-hundred day moving average of $217.45.

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Align Technology (NASDAQ:ALGN - Get Free Report) 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%. As a group, sell-side analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALGN. Morgan Stanley cut their target price on shares of Align Technology from $280.00 to $272.00 and set an "overweight" rating for the company in a research report on Thursday, February 6th. Leerink Partnrs upgraded shares of Align Technology from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Jefferies Financial Group lowered their price target on shares of Align Technology from $285.00 to $260.00 and set a "buy" rating on the stock in a report on Thursday, January 23rd. Evercore ISI lifted their price target on shares of Align Technology from $240.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $235.00 price target (down previously from $270.00) on shares of Align Technology in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $266.73.

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.