Meridiem Investment Management Ltd. Boosts Stake in Align Technology, Inc. (NASDAQ:ALGN)

Meridiem Investment Management Ltd. increased its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 63.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 764,732 shares of the medical equipment provider's stock after acquiring an additional 297,472 shares during the period. Align Technology comprises 2.9% of Meridiem Investment Management Ltd.'s investment portfolio, making the stock its 18th biggest holding. Meridiem Investment Management Ltd. owned 1.02% of Align Technology worth $159,470,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Baker Avenue Asset Management LP purchased a new stake in Align Technology in the 3rd quarter valued at about $4,250,000. Swedbank AB increased its stake in Align Technology by 30.1% in the 3rd quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider's stock valued at $98,960,000 after buying an additional 90,000 shares during the last quarter. KBC Group NV increased its stake in Align Technology by 11.8% in the 3rd quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider's stock valued at $13,595,000 after buying an additional 5,663 shares during the last quarter. Nordea Investment Management AB increased its stake in Align Technology by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider's stock valued at $56,870,000 after buying an additional 9,139 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Align Technology by 119.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider's stock valued at $35,368,000 after buying an additional 92,407 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on ALGN. Stifel Nicolaus decreased their price objective on shares of Align Technology from $285.00 to $275.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. Bank of America raised their price target on shares of Align Technology from $200.00 to $206.00 and gave the stock an "underperform" rating in a research note on Friday, December 13th. Leerink Partnrs raised shares of Align Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Piper Sandler lowered their price target on shares of Align Technology from $275.00 to $270.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Finally, Robert W. Baird dropped their price target on Align Technology from $325.00 to $276.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $269.91.

Align Technology Trading Down 1.8 %

NASDAQ:ALGN traded down $3.73 during trading hours on Thursday, reaching $198.06. 793,552 shares of the company traded hands, compared to its average volume of 793,941. The stock has a market capitalization of $14.79 billion, a P/E ratio of 35.30, a P/E/G ratio of 2.38 and a beta of 1.67. The business's 50-day moving average price is $216.70 and its two-hundred day moving average price is $224.47. Align Technology, Inc. has a 1 year low of $196.09 and a 1 year high of $335.40.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts' consensus estimates 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, equities analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current 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.