CANADA LIFE ASSURANCE Co Grows Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

CANADA LIFE ASSURANCE Co increased its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 2.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 121,306 shares of the medical equipment provider's stock after acquiring an additional 3,020 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.16% of Align Technology worth $25,273,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management increased its stake in shares of Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock worth $30,000 after purchasing an additional 58 shares in the last quarter. GKV Capital Management Co. Inc. bought a new position in Align Technology in the 4th quarter worth approximately $31,000. Aster Capital Management DIFC Ltd purchased a new position in Align Technology in the 4th quarter valued at approximately $35,000. Private Trust Co. NA raised its holdings in Align Technology by 113.4% during the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock valued at $36,000 after acquiring an additional 93 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of Align Technology by 212.2% during the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider's stock worth $48,000 after acquiring an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company's stock.

Align Technology Price Performance

NASDAQ ALGN traded up $3.36 on Wednesday, reaching $177.23. 1,035,142 shares of the company's stock traded hands, compared to its average volume of 884,547. The stock has a market cap of $12.98 billion, a PE ratio of 31.59, a P/E/G ratio of 2.24 and a beta of 1.73. Align Technology, Inc. has a 12 month low of $141.74 and a 12 month high of $327.49. The stock has a 50-day simple moving average of $171.42 and a 200 day simple moving average of $203.63.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 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%. As a group, analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Mizuho dropped their price objective on Align Technology from $295.00 to $250.00 and set an "outperform" rating on the stock in a report on Tuesday, March 25th. Leerink Partnrs upgraded shares of Align Technology from a "hold" rating to a "strong-buy" rating in a research report on Monday, January 6th. Wells Fargo & Company assumed coverage on shares of Align Technology in a report on Friday, February 14th. They set an "overweight" rating and a $255.00 target price on the stock. Jefferies Financial Group cut their price target on shares of Align Technology from $285.00 to $260.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Finally, Evercore ISI increased their price objective on Align Technology from $240.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.