Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 105,770 shares of the medical equipment provider's stock after buying an additional 2,717 shares during the quarter. Fisher Asset Management LLC owned about 0.14% of Align Technology worth $26,900,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ALGN. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Align Technology by 4,391.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 488,251 shares of the medical equipment provider's stock valued at $117,879,000 after purchasing an additional 477,380 shares during the period. Swedbank AB purchased a new stake in Align Technology in the first quarter valued at approximately $96,117,000. Senvest Management LLC boosted its holdings in shares of Align Technology by 76.4% in the third quarter. Senvest Management LLC now owns 459,243 shares of the medical equipment provider's stock valued at $116,795,000 after acquiring an additional 198,893 shares during the period. Point72 Asset Management L.P. grew its position in shares of Align Technology by 127.4% during the second quarter. Point72 Asset Management L.P. now owns 343,512 shares of the medical equipment provider's stock worth $82,934,000 after acquiring an additional 192,474 shares during the last quarter. Finally, Sofinnova Investments Inc. increased its holdings in shares of Align Technology by 128.9% in the 2nd quarter. Sofinnova Investments Inc. now owns 218,524 shares of the medical equipment provider's stock valued at $52,758,000 after acquiring an additional 123,046 shares during the period. Institutional investors and hedge funds own 88.43% of the company's stock.

Align Technology Stock Performance

Shares of ALGN traded up $1.58 during trading hours on Wednesday, hitting $229.51. The stock had a trading volume of 286,038 shares, compared to its average volume of 787,121. Align Technology, Inc. has a 12-month low of $196.09 and a 12-month high of $335.40. The firm has a market cap of $17.13 billion, a P/E ratio of 38.90, a P/E/G ratio of 6.23 and a beta of 1.65. The company's fifty day simple moving average is $227.85 and its 200 day simple moving average is $236.98.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The business had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. During the same period in the previous year, the company posted $1.62 EPS. The company's revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts predict that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ALGN shares. Stifel Nicolaus reduced their target price on shares of Align Technology from $285.00 to $275.00 and set a "buy" rating for the company in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a research note on Monday, November 4th. Robert W. Baird lowered their target price on Align Technology from $325.00 to $276.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. StockNews.com upgraded Align Technology from a "hold" rating to a "buy" rating in a research note on Thursday, September 19th. Finally, Evercore ISI decreased their price target on Align Technology from $270.00 to $250.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, Align Technology presently has an average rating of "Hold" and an average price target of $276.38.

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.