Amundi boosted its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 77.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 360,813 shares of the medical equipment provider's stock after acquiring an additional 157,654 shares during the quarter. Amundi owned 0.48% of Align Technology worth $77,708,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC increased its stake in Align Technology by 10,700.0% in the third 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 bought a new position in Align Technology in the third quarter valued at approximately $32,000. Private Trust Co. NA boosted its position in Align Technology by 113.4% in the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock valued at $36,000 after buying an additional 93 shares in the last quarter. Quarry LP boosted its position in Align Technology by 74.8% in the third quarter. Quarry LP now owns 222 shares of the medical equipment provider's stock valued at $56,000 after buying an additional 95 shares in the last quarter. 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 valued at $48,000 after buying an additional 157 shares in the last quarter. 88.43% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of analysts have weighed in on ALGN shares. Mizuho started coverage on shares of Align Technology in a research report on Wednesday, December 4th. They issued an "outperform" rating and a $295.00 target price on the stock. Piper Sandler cut their target price on shares of Align Technology from $275.00 to $270.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Wells Fargo & Company started coverage on shares of Align Technology in a research report on Friday, February 14th. They issued an "overweight" rating and a $255.00 target price on the stock. Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research report on Thursday, February 6th. Finally, Evercore ISI raised 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. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $269.91.
Check Out Our Latest Stock Analysis on ALGN
Align Technology Stock Performance
Shares of NASDAQ:ALGN opened at $165.14 on Wednesday. The firm has a market cap of $12.15 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 52 week low of $159.56 and a 52 week high of $335.40. The firm's fifty day moving average is $206.29 and its 200-day moving average is $220.25.
Align Technology (NASDAQ:ALGN - Get Free Report) last released its earnings results 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 net margin of 10.54% and a return on equity of 13.84%. Sell-side analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.
About Align Technology
(
Free Report)
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.
Further Reading
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