Marathon Asset Management Ltd Acquires 52,947 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Marathon Asset Management Ltd grew its position in Align Technology, Inc. (NASDAQ:ALGN) by 34.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 207,816 shares of the medical equipment provider’s stock after buying an additional 52,947 shares during the period. Marathon Asset Management Ltd’s holdings in Align Technology were worth $43,331,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of ALGN. True Wealth Design LLC raised its holdings in shares of Align Technology by 10,700.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after buying an additional 107 shares in the last quarter. Neo Ivy Capital Management bought a new position in Align Technology during the third quarter worth about $32,000. Private Trust Co. NA raised its stake in shares of Align Technology by 113.4% in the 4th 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. Versant Capital Management Inc raised its stake in shares of Align Technology by 212.2% in the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after purchasing an additional 157 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Align Technology in the 4th quarter valued at about $52,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on ALGN shares. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Morgan Stanley reduced 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, February 6th. Finally, Evercore ISI raised 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 research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $269.91.

Align Technology Stock Up 0.7 %

NASDAQ ALGN opened at $187.03 on Monday. The company has a 50-day simple moving average of $211.95 and a two-hundred day simple moving average of $223.44. Align Technology, Inc. has a 12-month low of $183.24 and a 12-month high of $335.40. The firm has a market cap of $13.96 billion, a price-to-earnings ratio of 33.34, a PEG ratio of 2.24 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (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%. Equities analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal 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.