Align Technology, Inc. (NASDAQ:ALGN) Shares Bought by AGF Management Ltd.

AGF Management Ltd. boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 40.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,986 shares of the medical equipment provider’s stock after buying an additional 575 shares during the quarter. AGF Management Ltd.’s holdings in Align Technology were worth $414,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Swedbank AB lifted its holdings in Align Technology by 30.1% during the 3rd quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock worth $98,960,000 after buying an additional 90,000 shares in the last quarter. KBC Group NV lifted its holdings in Align Technology by 11.8% during the 3rd quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock worth $13,595,000 after buying an additional 5,663 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Align Technology by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock valued at $56,870,000 after purchasing an additional 9,139 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Align Technology by 119.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider’s stock valued at $35,368,000 after purchasing an additional 92,407 shares in the last quarter. Finally, Fisher Asset Management LLC raised its holdings in shares of Align Technology by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock valued at $26,900,000 after purchasing an additional 2,717 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Performance

NASDAQ ALGN opened at $166.20 on Friday. The firm has a market cap of $12.23 billion, a PE ratio of 29.63, a P/E/G ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a one year low of $158.13 and a one year high of $335.40. The firm’s fifty day moving average is $203.61 and its two-hundred day moving average is $218.87.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ALGN shares. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Wells Fargo & Company started coverage on shares of Align Technology in a report on Friday, February 14th. They issued an “overweight” rating and a $255.00 price objective on the stock. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Morgan Stanley reduced their price objective on shares of 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 increased their target price 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 investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus 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.