Ieq Capital LLC Purchases 3,216 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Ieq Capital LLC raised its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,036 shares of the medical equipment provider's stock after purchasing an additional 3,216 shares during the quarter. Ieq Capital LLC owned about 0.05% of Align Technology worth $8,139,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ALGN. Wellington Management Group LLP increased its position in shares of Align Technology by 49.0% during the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider's stock worth $670,031,000 after acquiring an additional 866,663 shares during the last quarter. Geode Capital Management LLC boosted its position in Align Technology by 1.2% during the 3rd 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. FMR LLC increased its holdings in shares of Align Technology by 43.0% in the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider's stock worth $310,736,000 after acquiring an additional 367,508 shares during the period. Ninety One UK Ltd increased its stake in shares of Align Technology by 3.7% in the fourth quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider's stock valued at $254,508,000 after purchasing an additional 43,524 shares during the period. Finally, Meridiem Investment Management Ltd. raised its stake in Align Technology by 63.7% during the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider's stock valued at $159,470,000 after acquiring an additional 297,472 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on ALGN shares. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research report on Thursday, February 6th. Bank of America increased their price target on Align Technology from $200.00 to $206.00 and gave the company an "underperform" rating in a research report on Friday, December 13th. Stifel Nicolaus lowered their price objective on shares of 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 upgraded Align Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Finally, Jefferies Financial Group cut their price objective on Align Technology from $285.00 to $260.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $269.91.

Align Technology Price Performance

NASDAQ:ALGN traded down $7.63 during midday trading on Friday, reaching $190.43. The stock had a trading volume of 1,695,090 shares, compared to its average volume of 820,444. Align Technology, Inc. has a 1-year low of $186.82 and a 1-year high of $335.40. The firm's fifty day simple moving average is $215.95 and its 200-day simple moving average is $224.29. The stock has a market capitalization of $14.22 billion, a P/E ratio of 33.94, a PEG ratio of 2.38 and a beta of 1.67.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (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 research analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

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.