Ieq Capital LLC Raises Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Ieq Capital LLC increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 9.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,036 shares of the medical equipment provider’s stock after purchasing an additional 3,216 shares during the quarter. Ieq Capital LLC’s holdings in Align Technology were worth $8,139,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in ALGN. Wellington Management Group LLP increased its position in shares of Align Technology by 49.0% during the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after purchasing an additional 866,663 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Align Technology during the third quarter worth approximately $137,287,000. FMR LLC boosted its stake in Align Technology by 43.0% during the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after buying an additional 367,508 shares during the last quarter. Point72 Asset Management L.P. boosted its stake 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 during the last quarter. Finally, Meridiem Investment Management Ltd. boosted its stake in Align Technology by 63.7% during the fourth 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 last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Stock Down 1.8 %

Shares of Align Technology stock opened at $198.06 on Friday. Align Technology, Inc. has a 52 week low of $196.09 and a 52 week high of $335.40. The business’s fifty day simple moving average is $215.95 and its 200-day simple moving average is $224.29. The firm has a market cap of $14.79 billion, a PE ratio of 35.30, a price-to-earnings-growth ratio of 2.38 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last posted its 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 return on equity of 13.84% and a net margin of 10.54%. As a group, equities analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ALGN shares. Leerink Partners raised 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 research note on Monday, January 6th. Bank of America boosted their price objective on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research note on Friday, December 13th. Evercore ISI boosted their price objective on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Piper Sandler lowered their price objective on Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. Finally, Jefferies Financial Group lowered their price objective on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Align Technology presently has an average rating of “Moderate Buy” and a consensus target price of $269.91.

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.