Distillate Capital Partners LLC Takes Position in Align Technology, Inc. (NASDAQ:ALGN)

Distillate Capital Partners LLC bought a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 73,407 shares of the medical equipment provider's stock, valued at approximately $15,306,000. Distillate Capital Partners LLC owned about 0.10% of Align Technology at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ALGN. Stifel Financial Corp raised its stake in shares of Align Technology by 2.8% in the third quarter. Stifel Financial Corp now owns 33,864 shares of the medical equipment provider's stock valued at $8,612,000 after purchasing an additional 936 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its position in Align Technology by 8.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 20,882 shares of the medical equipment provider's stock worth $5,311,000 after purchasing an additional 1,678 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Align Technology by 1.2% during the third 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 in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Align Technology by 9.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,251 shares of the medical equipment provider's stock worth $566,000 after buying an additional 191 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new position in shares of Align Technology during the 3rd quarter worth approximately $32,000. 88.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ALGN shares. 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 note on Thursday, February 6th. Piper Sandler reiterated an "overweight" rating and issued a $235.00 target price (down previously from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. Mizuho reduced their price objective on Align Technology from $295.00 to $250.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 25th. Morgan Stanley reduced their price objective on Align Technology from $280.00 to $272.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Finally, Leerink Partners raised Align Technology from a "market perform" rating to an "outperform" rating and upped their price target for the company from $235.00 to $280.00 in a research note on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Align Technology presently has a consensus rating of "Moderate Buy" and an average target price of $256.90.

Align Technology Trading Up 2.5 %

Shares of NASDAQ ALGN traded up $4.23 during mid-day trading on Thursday, reaching $171.41. 816,188 shares of the company's stock were exchanged, compared to its average volume of 872,930. The business has a fifty day simple moving average of $174.30 and a 200 day simple moving average of $205.86. Align Technology, Inc. has a twelve month low of $141.74 and a twelve month high of $327.49. The firm has a market capitalization of $12.55 billion, a price-to-earnings ratio of 30.55, a PEG ratio of 2.24 and a beta of 1.73.

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