Grandeur Peak Global Advisors LLC Has $685,000 Position in Align Technology, Inc. (NASDAQ:ALGN)

Grandeur Peak Global Advisors LLC reduced its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 85.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,285 shares of the medical equipment provider's stock after selling 19,356 shares during the period. Grandeur Peak Global Advisors LLC's holdings in Align Technology were worth $685,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ALGN. Neo Ivy Capital Management bought a new stake in Align Technology during the 3rd quarter worth about $32,000. Picton Mahoney Asset Management raised its stake in shares of Align Technology by 69.9% during the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock worth $30,000 after buying an additional 58 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Align Technology in the fourth quarter valued at approximately $35,000. Private Trust Co. NA boosted its stake 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 acquiring an additional 93 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in Align Technology by 212.2% during the 4th 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 during the period. Institutional investors own 88.43% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ALGN. Wells Fargo & Company began coverage on Align Technology in a research note on Friday, February 14th. They set an "overweight" rating and a $255.00 price objective for the company. Mizuho lowered their price target on Align Technology from $295.00 to $250.00 and set an "outperform" rating for the company in a research note on Tuesday, March 25th. Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a research note on Thursday, February 6th. Evercore ISI lifted their price target on shares of Align Technology from $240.00 to $260.00 and gave the stock an "outperform" rating in a research report on Thursday, February 6th. Finally, Leerink Partnrs raised Align Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given 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 a consensus rating of "Moderate Buy" and an average target price of $256.90.

Align Technology Trading Up 2.1 %

Shares of ALGN traded up $3.51 during midday trading on Thursday, reaching $170.69. The stock had a trading volume of 318,675 shares, compared to its average volume of 871,012. The firm has a market cap of $12.50 billion, a PE ratio of 30.44, a P/E/G ratio of 2.24 and a beta of 1.73. The firm has a 50 day simple moving average of $174.30 and a 200-day simple moving average of $205.86. Align Technology, Inc. has a one year low of $141.74 and a one year high of $327.49.

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 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 7.98 EPS for the current fiscal year.

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.