Daiwa Securities Group Inc. Has $2.18 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Daiwa Securities Group Inc. grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 6.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,458 shares of the medical equipment provider’s stock after buying an additional 654 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Align Technology were worth $2,181,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ALGN. True Wealth Design LLC grew its holdings in shares of Align Technology by 10,700.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock valued at $27,000 after buying an additional 107 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Align Technology during the third quarter valued at about $32,000. Private Trust Co. NA lifted its position in shares of Align Technology by 113.4% during 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 lifted 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 purchasing an additional 157 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Align Technology during the fourth quarter valued at about $52,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ALGN shares. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Piper Sandler dropped their price target on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Morgan Stanley dropped their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Jefferies Financial Group dropped their price target 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, Evercore ISI raised their price target on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $269.91.

Align Technology Stock Up 3.5 %

NASDAQ ALGN opened at $166.20 on Friday. The company’s 50 day moving average is $203.61 and its 200-day moving average is $218.99. Align Technology, Inc. has a 12-month low of $158.13 and a 12-month high of $335.40. The firm has a market cap of $12.23 billion, a P/E ratio of 29.63, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69.

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 EPS 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.