New York Life Investment Management LLC Acquires 68 Shares of Align Technology, Inc. (NASDAQ:ALGN)

New York Life Investment Management LLC lifted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 0.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 9,406 shares of the medical equipment provider’s stock after purchasing an additional 68 shares during the period. New York Life Investment Management LLC’s holdings in Align Technology were worth $1,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. True Wealth Design LLC boosted its stake in 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 purchasing an additional 107 shares during the period. Neo Ivy Capital Management bought a new position in shares of Align Technology in the third quarter valued at approximately $32,000. Versant Capital Management Inc grew its stake 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 in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Align Technology during the 4th quarter worth approximately $52,000. Finally, Quarry LP increased its holdings in Align Technology by 74.8% during the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 95 shares during the period. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Stock Performance

Shares of Align Technology stock opened at $187.03 on Monday. The stock has a market capitalization of $13.96 billion, a price-to-earnings ratio of 33.34, a price-to-earnings-growth ratio of 2.24 and a beta of 1.67. The company has a fifty day moving average of $211.95 and a 200-day moving average of $223.44. Align Technology, Inc. has a 52-week low of $183.24 and a 52-week high of $335.40.

Align Technology (NASDAQ:ALGN) last announced 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 net margin of 10.54% and a return on equity of 13.84%. On average, equities research analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ALGN. Bank of America boosted their price target on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Mizuho assumed coverage on Align Technology in a research note on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 target price on the stock. Morgan Stanley dropped their price target on Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Jefferies Financial Group decreased their price objective 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. Finally, Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $235.00 to $280.00 in a research report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.