Aigen Investment Management LP Acquires New Shares in Align Technology, Inc. (NASDAQ:ALGN)

Aigen Investment Management LP bought a new stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,674 shares of the medical equipment provider's stock, valued at approximately $349,000.

A number of other large investors also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new position in shares of Align Technology in the 4th quarter worth approximately $15,782,000. Victory Capital Management Inc. raised its stake in shares of Align Technology by 21.7% in the fourth quarter. Victory Capital Management Inc. now owns 163,102 shares of the medical equipment provider's stock valued at $34,008,000 after buying an additional 29,066 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Align Technology by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 465,607 shares of the medical equipment provider's stock worth $97,084,000 after purchasing an additional 17,579 shares in the last quarter. Marathon Asset Management Ltd raised its position in shares of Align Technology by 34.2% in the fourth quarter. Marathon Asset Management Ltd now owns 207,816 shares of the medical equipment provider's stock worth $43,331,000 after buying an additional 52,947 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Align Technology during the fourth quarter worth about $122,000. Institutional investors own 88.43% of the company's stock.

Align Technology Stock Performance

Shares of Align Technology stock traded down $9.11 on Monday, hitting $164.64. The company's stock had a trading volume of 1,096,290 shares, compared to its average volume of 766,893. The company has a market capitalization of $12.12 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 1 year low of $162.72 and a 1 year high of $335.40. The firm has a fifty day moving average price of $208.02 and a 200-day moving average price of $221.19.

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Align Technology (NASDAQ:ALGN - Get Free Report) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. As a group, analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Bank of America boosted their target price on Align Technology from $200.00 to $206.00 and gave the company an "underperform" rating in a research note on Friday, December 13th. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research report on Thursday, February 6th. Piper Sandler lowered their target price on Align Technology from $275.00 to $270.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Leerink Partnrs raised Align Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Finally, Jefferies Financial Group decreased their target price on shares of Align Technology from $285.00 to $260.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $269.91.

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.