Proficio Capital Partners LLC Acquires New Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Proficio Capital Partners LLC purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 75,689 shares of the medical equipment provider's stock, valued at approximately $15,782,000. Proficio Capital Partners LLC owned approximately 0.10% of Align Technology as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in 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 worth $670,031,000 after acquiring an additional 866,663 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Align Technology by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider's stock valued at $443,810,000 after purchasing an additional 21,605 shares during the period. FMR LLC lifted its stake in shares of Align Technology by 43.0% in the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider's stock valued at $310,736,000 after purchasing an additional 367,508 shares during the period. Ninety One UK Ltd lifted its stake in shares of Align Technology by 3.7% in the 4th quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider's stock valued at $254,508,000 after purchasing an additional 43,524 shares during the period. Finally, Meridiem Investment Management Ltd. raised its stake in Align Technology by 63.7% during the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider's stock worth $159,470,000 after buying an additional 297,472 shares during the period. Institutional investors and hedge funds own 88.43% of the company's stock.

Remove Ads

Analyst Ratings Changes

Several analysts have issued reports on ALGN shares. Leerink Partners raised Align Technology from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $235.00 to $280.00 in a research note on Monday, January 6th. Mizuho initiated coverage on Align Technology in a report on Wednesday, December 4th. They set an "outperform" rating and a $295.00 price target for the company. Needham & Company LLC reiterated a "hold" rating on shares of Align Technology in a report on Thursday, February 6th. Piper Sandler restated an "overweight" rating and set a $235.00 price objective (down previously from $270.00) on shares of Align Technology in a report on Tuesday. Finally, Morgan Stanley reduced their price objective on Align Technology from $280.00 to $272.00 and set an "overweight" rating for the company in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $266.73.

Align Technology Trading Down 3.0 %

Shares of ALGN traded down $5.06 during mid-day trading on Tuesday, reaching $164.53. 1,255,745 shares of the stock traded hands, compared to its average volume of 789,445. The firm has a fifty day moving average price of $202.63 and a 200 day moving average price of $218.32. The company has a market cap of $12.11 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 1 year low of $158.13 and a 1 year high of $335.40.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings data 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%. On average, sell-side 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.