Mirae Asset Global Investments Co. Ltd. Boosts Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 22.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,369 shares of the medical equipment provider’s stock after buying an additional 1,869 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Align Technology were worth $2,174,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in Align Technology by 49.0% in the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after acquiring an additional 866,663 shares during the period. Holocene Advisors LP purchased a new position in shares of Align Technology in the 3rd quarter valued at about $137,287,000. FMR LLC lifted its stake in shares of Align Technology by 43.0% in the third 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. Point72 Asset Management L.P. boosted its holdings in Align Technology by 96.3% during the third quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock worth $171,493,000 after buying an additional 330,807 shares in the last quarter. Finally, Senvest Management LLC grew its position in Align Technology by 76.4% during the third quarter. Senvest Management LLC now owns 459,243 shares of the medical equipment provider’s stock worth $116,795,000 after buying an additional 198,893 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ALGN shares. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday. Morgan Stanley lowered their target price on Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a report on Thursday. Bank of America lifted their price target on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Robert W. Baird lowered their price objective on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Piper Sandler cut their target price on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a research report on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Align Technology presently has an average rating of “Moderate Buy” and an average target price of $271.40.

Align Technology Stock Down 3.6 %

Shares of NASDAQ ALGN opened at $210.55 on Monday. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40. The business has a 50 day moving average price of $221.25 and a two-hundred day moving average price of $225.66. The firm has a market cap of $15.72 billion, a PE ratio of 37.53, a price-to-earnings-growth ratio of 4.79 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share 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%. On average, analysts anticipate that Align Technology, Inc. will post 8.09 earnings per share for the current year.

Align Technology Company 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.