Align Technology, Inc. (NASDAQ:ALGN) Stock Position Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 119.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 169,641 shares of the medical equipment provider's stock after purchasing an additional 92,407 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.23% of Align Technology worth $35,368,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of ALGN. True Wealth Design LLC lifted its position in 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 worth $27,000 after acquiring an additional 107 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Align Technology during the 3rd quarter worth approximately $32,000. Quarry LP lifted its position in Align Technology by 74.8% during the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider's stock worth $56,000 after acquiring an additional 95 shares in the last quarter. Versant Capital Management Inc lifted its position in Align Technology by 212.2% during the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider's stock worth $48,000 after acquiring an additional 157 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in Align Technology during the 4th quarter worth approximately $52,000. Hedge funds and other institutional investors own 88.43% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Morgan Stanley reduced their price target on Align Technology from $280.00 to $272.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group cut their target price on Align Technology from $285.00 to $260.00 and set a "buy" rating on the stock in a research report on Thursday, January 23rd. Stifel Nicolaus cut their target price on Align Technology from $285.00 to $275.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. Leerink Partnrs raised Align Technology from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Finally, Bank of America upped their target price on Align Technology from $200.00 to $206.00 and gave the company an "underperform" rating in a research report on Friday, December 13th. One equities research 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 company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $269.91.

Align Technology Trading Down 2.7 %

ALGN traded down $5.67 during trading on Tuesday, reaching $201.10. 374,845 shares of the company were exchanged, compared to its average volume of 782,515. The stock has a market cap of $15.01 billion, a P/E ratio of 35.89, a PEG ratio of 4.79 and a beta of 1.67. The firm has a 50 day moving average of $218.16 and a 200 day moving average of $224.71. Align Technology, Inc. has a 52 week low of $196.09 and a 52 week high of $335.40.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 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 8.09 earnings per share for the current fiscal 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.