FIL Ltd Purchases 20,757 Shares of Align Technology, Inc. (NASDAQ:ALGN)

FIL Ltd grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 46.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 65,128 shares of the medical equipment provider's stock after purchasing an additional 20,757 shares during the period. FIL Ltd owned about 0.09% of Align Technology worth $13,580,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Picton Mahoney Asset Management boosted its holdings in Align Technology by 69.9% during the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock worth $30,000 after acquiring an additional 58 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Align Technology in the 3rd quarter worth approximately $32,000. Aster Capital Management DIFC Ltd bought a new position in shares of Align Technology in the fourth quarter valued at approximately $35,000. Private Trust Co. NA lifted its holdings in Align Technology by 113.4% during the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock worth $36,000 after acquiring an additional 93 shares during the period. Finally, Versant Capital Management Inc boosted its position in Align Technology by 212.2% in the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider's stock worth $48,000 after purchasing an additional 157 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company's stock.

Align Technology Price Performance

ALGN traded up $2.87 during trading on Thursday, hitting $170.05. 188,358 shares of the stock traded hands, compared to its average volume of 870,497. The firm has a market capitalization of $12.45 billion, a P/E ratio of 30.23, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73. The firm has a 50-day moving average of $174.30 and a 200 day moving average of $205.86. Align Technology, Inc. has a 12-month low of $141.74 and a 12-month high of $327.49.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued 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 return on equity of 13.84% and a net margin of 10.54%. As a group, equities analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ALGN. Mizuho cut their price target on shares of Align Technology from $295.00 to $250.00 and set an "outperform" rating on the stock in a report on Tuesday, March 25th. Evercore ISI raised their target price on 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 lowered their price objective on Align Technology from $280.00 to $272.00 and set an "overweight" rating on the stock in a research note on Thursday, February 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 research report on Thursday, January 23rd. Finally, Leerink Partners upgraded Align Technology from a "market perform" rating to an "outperform" rating and increased their price objective for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.90.

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.