Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 465,607 shares of the medical equipment provider's stock after acquiring an additional 17,579 shares during the period. Charles Schwab Investment Management Inc. owned 0.62% of Align Technology worth $97,084,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its stake in Align Technology by 10,700.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider's stock valued at $27,000 after acquiring an additional 107 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Align Technology in the 3rd quarter valued at about $32,000. Private Trust Co. NA lifted its holdings in Align Technology by 113.4% in the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock valued at $36,000 after purchasing an additional 93 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Align Technology by 212.2% in the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider's stock valued at $48,000 after purchasing an additional 157 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in Align Technology in the 4th quarter valued at about $52,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALGN has been the topic of a number of recent research reports. Bank of America upped their target price on shares of Align Technology from $200.00 to $206.00 and gave the company an "underperform" rating in a report on Friday, December 13th. Mizuho initiated coverage on shares of Align Technology in a report on Wednesday, December 4th. They issued an "outperform" rating and a $295.00 target price on the stock. Evercore ISI upped their target price on shares of Align Technology from $240.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. Leerink Partners upgraded shares of Align Technology from a "market perform" rating to an "outperform" rating and upped their target price for the company from $235.00 to $280.00 in a report on Monday, January 6th. Finally, Piper Sandler reduced their target price on shares of Align Technology from $275.00 to $270.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $269.91.

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Align Technology Stock Performance

ALGN opened at $173.75 on Monday. The firm has a 50 day moving average price of $208.02 and a 200 day moving average price of $221.19. The company has a market cap of $12.79 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 1 year low of $167.32 and a 1 year high of $335.40.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (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%. On average, sell-side analysts predict that Align Technology, Inc. will post 7.98 earnings per share 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.

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