Russell Investments Group Ltd. Boosts Position in Align Technology, Inc. (NASDAQ:ALGN)

Russell Investments Group Ltd. boosted its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 25.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 122,582 shares of the medical equipment provider's stock after acquiring an additional 24,680 shares during the period. Russell Investments Group Ltd. owned 0.16% of Align Technology worth $25,552,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management raised its holdings in shares of Align Technology by 69.9% in the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock worth $30,000 after acquiring an additional 58 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Align Technology in the third quarter worth approximately $32,000. Private Trust Co. NA lifted its holdings in shares of 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 in the last quarter. Versant Capital Management Inc boosted its position in shares of 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 buying an additional 157 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Align Technology during the fourth quarter worth $52,000. Institutional investors and hedge funds own 88.43% of the company's stock.

Wall Street Analyst Weigh In

ALGN has been the topic of a number of analyst reports. Jefferies Financial Group cut their price objective on shares of Align Technology from $285.00 to $260.00 and set a "buy" rating on the stock in a report on Thursday, January 23rd. Morgan Stanley cut their price target on shares of Align Technology from $280.00 to $272.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. Needham & Company LLC reiterated a "hold" rating on shares of Align Technology in a research note on Thursday, February 6th. Leerink Partnrs raised Align Technology from a "hold" rating to a "strong-buy" rating in a report on Monday, January 6th. Finally, Evercore ISI lifted their price target on Align Technology from $240.00 to $260.00 and gave the stock an "outperform" rating in a report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $262.64.

Align Technology Price Performance

Shares of NASDAQ:ALGN traded up $3.08 during trading on Monday, hitting $167.22. 252,537 shares of the company were exchanged, compared to its average volume of 865,125. Align Technology, Inc. has a 52-week low of $141.74 and a 52-week high of $327.49. The stock has a 50 day moving average of $177.26 and a 200 day moving average of $207.05. The company has a market cap of $12.24 billion, a PE ratio of 29.81, a P/E/G ratio of 2.24 and a beta of 1.73.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued 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 return on equity of 13.84% and a net margin of 10.54%. Sell-side analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal 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.