First Eagle Investment Management LLC Purchases 350 Shares of Align Technology, Inc. (NASDAQ:ALGN)

First Eagle Investment Management LLC increased its position in Align Technology, Inc. (NASDAQ:ALGN) by 8.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 4,264 shares of the medical equipment provider’s stock after buying an additional 350 shares during the period. First Eagle Investment Management LLC’s holdings in Align Technology were worth $889,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Empirical Finance LLC boosted its stake in shares of Align Technology by 2.1% in the third quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock worth $632,000 after acquiring an additional 50 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Align Technology by 9.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 766 shares of the medical equipment provider’s stock valued at $158,000 after buying an additional 64 shares during the last quarter. Beech Hill Advisors Inc. raised its position in shares of Align Technology by 0.6% during the fourth quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider’s stock valued at $2,425,000 after buying an additional 65 shares during the last quarter. New York Life Investment Management LLC lifted its holdings in shares of Align Technology by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 9,406 shares of the medical equipment provider’s stock worth $1,961,000 after buying an additional 68 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Align Technology by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider’s stock worth $1,626,000 after acquiring an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Trading Up 3.5 %

Shares of NASDAQ:ALGN opened at $166.20 on Monday. The firm’s 50-day moving average is $203.61 and its 200 day moving average is $218.78. Align Technology, Inc. has a 12 month low of $158.13 and a 12 month high of $335.40. The company has a market capitalization of $12.23 billion, a price-to-earnings ratio of 29.63, a PEG ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share 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%. As a group, equities analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALGN. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Evercore ISI lifted their target price on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Leerink Partnrs raised Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Bank of America raised their price target on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Finally, Morgan Stanley decreased their price objective on Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $269.91.

Align Technology 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.