Geode Capital Management LLC Purchases 39,209 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Geode Capital Management LLC raised its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,790,014 shares of the medical equipment provider's stock after purchasing an additional 39,209 shares during the period. Geode Capital Management LLC owned 2.40% of Align Technology worth $372,299,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Picton Mahoney Asset Management lifted its stake in Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock valued at $30,000 after buying an additional 58 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Align Technology by 9.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 766 shares of the medical equipment provider's stock valued at $158,000 after buying an additional 64 shares in the last quarter. Beech Hill Advisors Inc. lifted its holdings in Align Technology by 0.6% during the fourth quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider's stock worth $2,425,000 after acquiring an additional 65 shares in the last quarter. New York Life Investment Management LLC boosted its holdings in shares of Align Technology by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 9,406 shares of the medical equipment provider's stock valued at $1,961,000 after buying an additional 68 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Align Technology by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider's stock valued at $1,626,000 after acquiring an additional 91 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on ALGN. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a report on Thursday, February 6th. Piper Sandler restated an "overweight" rating and issued a $235.00 price target (down previously from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. Mizuho decreased their target price on Align Technology from $295.00 to $250.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 25th. Evercore ISI boosted their target price on shares of Align Technology from $240.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Finally, Leerink Partners raised shares of Align Technology from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $235.00 to $280.00 in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $262.64.

Align Technology Price Performance

Shares of ALGN traded down $7.25 during trading hours on Thursday, hitting $157.78. The stock had a trading volume of 533,091 shares, compared to its average volume of 858,388. Align Technology, Inc. has a 1-year low of $141.74 and a 1-year high of $331.64. The firm has a market capitalization of $11.55 billion, a P/E ratio of 28.21, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73. The firm has a 50 day simple moving average of $179.39 and a 200-day simple moving average of $208.51.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its 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 net margin of 10.54% and a return on equity of 13.84%. Equities analysts predict that Align Technology, Inc. will post 7.98 EPS 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.