LPL Financial LLC Raises Holdings in Align Technology, Inc. (NASDAQ:ALGN)

LPL Financial LLC boosted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 6.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 38,784 shares of the medical equipment provider's stock after purchasing an additional 2,437 shares during the period. LPL Financial LLC owned approximately 0.05% of Align Technology worth $8,087,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP increased its holdings in shares of Align Technology by 49.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider's stock valued at $670,031,000 after purchasing an additional 866,663 shares in the last quarter. Meridiem Investment Management Ltd. increased its holdings in Align Technology by 63.7% in the fourth quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider's stock valued at $159,470,000 after buying an additional 297,472 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Align Technology in the fourth quarter worth about $42,243,000. Amundi boosted its stake in shares of Align Technology by 77.6% during the 4th quarter. Amundi now owns 360,813 shares of the medical equipment provider's stock worth $77,708,000 after acquiring an additional 157,654 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its position in shares of Align Technology by 30.6% during the 4th quarter. DAVENPORT & Co LLC now owns 579,083 shares of the medical equipment provider's stock valued at $120,287,000 after acquiring an additional 135,666 shares during the period. Hedge funds and other institutional investors own 88.43% of the company's stock.

Align Technology Stock Down 3.0 %

ALGN traded down $4.89 during trading on Thursday, reaching $160.14. The company's stock had a trading volume of 1,827,792 shares, compared to its average volume of 863,693. The company has a market cap of $11.72 billion, a price-to-earnings ratio of 28.55, a PEG ratio of 2.24 and a beta of 1.73. The firm has a fifty day simple moving average of $178.28 and a two-hundred day simple moving average of $207.89. Align Technology, Inc. has a 1 year low of $141.74 and a 1 year high of $331.64.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly 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 net margin of 10.54% and a return on equity of 13.84%. As a group, equities analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on ALGN. Morgan Stanley reduced their price target on Align Technology from $280.00 to $272.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. Leerink Partners upgraded Align Technology from a "market perform" rating to an "outperform" rating and increased their target price for the company from $235.00 to $280.00 in a research report on Monday, January 6th. Mizuho dropped their price target on shares of Align Technology from $295.00 to $250.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 25th. Bank of America upped their price objective on shares of Align Technology from $200.00 to $206.00 and gave the stock an "underperform" rating in a research report on Friday, December 13th. Finally, Wells Fargo & Company assumed coverage on shares of Align Technology in a research report on Friday, February 14th. They issued an "overweight" rating and a $255.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $262.64.

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.