Alapocas Investment Partners Inc. Makes New Investment in Align Technology, Inc. (NASDAQ:ALGN)

Alapocas Investment Partners Inc. purchased a new position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,798 shares of the medical equipment provider's stock, valued at approximately $5,379,000. Align Technology comprises 3.0% of Alapocas Investment Partners Inc.'s investment portfolio, making the stock its 16th biggest holding.

Several other institutional investors also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. grew its holdings in Align Technology by 8.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 20,882 shares of the medical equipment provider's stock worth $5,311,000 after acquiring an additional 1,678 shares during the period. Geode Capital Management LLC lifted its stake in shares of Align Technology by 1.2% in the third quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider's stock valued at $443,810,000 after purchasing an additional 21,605 shares during the period. Coldstream Capital Management Inc. grew its position in Align Technology by 9.3% during the third quarter. Coldstream Capital Management Inc. now owns 2,251 shares of the medical equipment provider's stock worth $566,000 after buying an additional 191 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Align Technology in the third quarter valued at about $78,000. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Align Technology during the 3rd quarter worth approximately $747,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a report on Thursday, February 6th. Leerink Partnrs raised shares of Align Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Leerink Partners upgraded shares of Align Technology from a "market perform" rating to an "outperform" rating and lifted their target price for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. Evercore ISI raised their price objective on shares of Align Technology from $240.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Finally, Wells Fargo & Company initiated coverage on Align Technology in a research note on Friday, February 14th. They issued an "overweight" rating and a $255.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given 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, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $256.90.

Align Technology Trading Up 2.5 %

ALGN traded up $4.23 during midday trading on Friday, hitting $171.41. The company's stock had a trading volume of 816,188 shares, compared to its average volume of 874,117. Align Technology, Inc. has a 52-week low of $141.74 and a 52-week high of $327.49. The firm has a 50-day moving average price of $173.49 and a two-hundred day moving average price of $205.29. The firm has a market cap of $12.55 billion, a P/E ratio of 30.55, a PEG ratio of 2.24 and a beta of 1.73.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 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 expect that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology Company 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.