Quantbot Technologies LP Acquires 36,106 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Quantbot Technologies LP lifted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 2,071.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,849 shares of the medical equipment provider's stock after buying an additional 36,106 shares during the period. Quantbot Technologies LP owned about 0.05% of Align Technology worth $7,892,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. 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 purchasing an additional 107 shares during the period. Picton Mahoney Asset Management increased its holdings in Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock valued at $30,000 after purchasing an additional 58 shares during the period. Neo Ivy Capital Management acquired a new stake in Align Technology in the third quarter valued at $32,000. Private Trust Co. NA increased its holdings 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 purchasing an additional 93 shares during the period. Finally, Versant Capital Management Inc boosted its position in Align Technology by 212.2% during the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider's stock valued at $48,000 after acquiring an additional 157 shares during the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of analysts have commented on ALGN shares. Jefferies Financial Group cut their price target on shares of Align Technology from $285.00 to $260.00 and set a "buy" rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company started coverage on shares of Align Technology in a research report on Friday, February 14th. They set an "overweight" rating and a $255.00 price target on the stock. Evercore ISI upped their price target on shares of Align Technology from $240.00 to $260.00 and gave the company an "outperform" rating in a research report on Thursday, February 6th. Leerink Partners raised shares of Align Technology from a "market perform" rating to an "outperform" rating and upped their price target for the company from $235.00 to $280.00 in a research report on Monday, January 6th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a research report on Thursday, February 6th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Align Technology currently has a consensus rating of "Moderate Buy" and an average price target of $266.73.

Align Technology Price Performance

Shares of ALGN stock traded down $5.06 on Tuesday, reaching $164.53. 1,255,747 shares of the company were exchanged, compared to its average volume of 789,445. The company has a market cap of $12.11 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 2.24 and a beta of 1.69. The company has a 50-day moving average of $202.63 and a 200-day moving average of $218.32. Align Technology, Inc. has a one year low of $158.13 and a one year high of $335.40.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share 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, sell-side analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

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.