Entropy Technologies LP Acquires Shares of 8,689 Align Technology, Inc. (NASDAQ:ALGN)

Entropy Technologies LP bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 8,689 shares of the medical equipment provider's stock, valued at approximately $1,812,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP raised its position in shares of Align Technology by 49.0% during the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider's stock worth $670,031,000 after acquiring an additional 866,663 shares during the last quarter. Geode Capital Management LLC raised its position in shares of 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 worth $443,810,000 after acquiring an additional 21,605 shares during the last quarter. FMR LLC raised its position in shares of Align Technology by 43.0% during the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider's stock worth $310,736,000 after acquiring an additional 367,508 shares during the last quarter. Ninety One UK Ltd raised its position in shares of Align Technology by 3.7% during the fourth quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider's stock worth $254,508,000 after acquiring an additional 43,524 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its position in shares of Align Technology by 6.4% during the third quarter. Disciplined Growth Investors Inc. MN now owns 753,026 shares of the medical equipment provider's stock worth $191,510,000 after acquiring an additional 45,484 shares during the last quarter. Institutional investors own 88.43% of the company's stock.

Align Technology Trading Down 0.2 %

Shares of ALGN stock traded down $0.45 on Thursday, hitting $204.89. 824,140 shares of the stock were exchanged, compared to its average volume of 794,036. The firm has a market capitalization of $15.30 billion, a P/E ratio of 36.52, a price-to-earnings-growth ratio of 4.79 and a beta of 1.67. The business has a 50-day moving average of $219.74 and a 200 day moving average of $225.21. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings data 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 return on equity of 13.84% and a net margin of 10.54%. As a group, research analysts forecast that Align Technology, Inc. will post 8.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Morgan Stanley dropped their price objective on Align Technology from $280.00 to $272.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Stifel Nicolaus dropped their price objective on Align Technology from $285.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, October 24th. Leerink Partners upgraded Align Technology from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $235.00 to $280.00 in a report on Monday, January 6th. Piper Sandler dropped their price objective on Align Technology from $275.00 to $270.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Finally, Jefferies Financial Group dropped their price objective on Align Technology from $285.00 to $260.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $271.40.

About Align Technology

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.