Mirae Asset Global Investments Co. Ltd. lifted its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 22.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,369 shares of the medical equipment provider's stock after buying an additional 1,869 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Align Technology were worth $2,174,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the business. True Wealth Design LLC increased its holdings in Align Technology by 10,700.0% in the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider's stock valued at $27,000 after buying an additional 107 shares in the last quarter. Neo Ivy Capital Management acquired a new position in Align Technology in the 3rd quarter worth about $32,000. CVA Family Office LLC boosted its position in Align Technology by 85.2% during the third quarter. CVA Family Office LLC now owns 150 shares of the medical equipment provider's stock worth $38,000 after purchasing an additional 69 shares in the last quarter. Mather Group LLC. grew its holdings in Align Technology by 51.6% in the third quarter. Mather Group LLC. now owns 185 shares of the medical equipment provider's stock valued at $47,000 after purchasing an additional 63 shares during the period. Finally, Quarry LP raised its stake in shares of Align Technology by 74.8% during the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider's stock worth $56,000 after buying an additional 95 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently commented on ALGN shares. Leerink Partnrs raised shares of Align Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Bank of America boosted their target price 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. Stifel Nicolaus decreased their price target on shares of Align Technology from $285.00 to $275.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Leerink Partners upgraded Align Technology from a "market perform" rating to an "outperform" rating and lifted their price objective for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Finally, Evercore ISI increased their target price on Align Technology from $240.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $271.40.
Check Out Our Latest Stock Report on Align Technology
Align Technology Price Performance
Align Technology stock traded down $0.45 during trading on Thursday, reaching $204.89. 824,140 shares of the company were exchanged, compared to its average volume of 794,036. The stock's 50 day simple moving average is $219.74 and its two-hundred day simple moving average is $225.21. The company has a market capitalization of $15.30 billion, a P/E ratio of 36.52, a PEG ratio of 4.79 and a beta of 1.67. Align Technology, Inc. has a 52-week low of $196.09 and a 52-week high of $335.40.
Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 8.09 earnings per share for the current year.
About Align Technology
(
Free Report)
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.
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