Align Technology, Inc. (NASDAQ:ALGN) Shares Acquired by Ieq Capital LLC

Ieq Capital LLC grew its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 9.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,036 shares of the medical equipment provider’s stock after acquiring an additional 3,216 shares during the quarter. Ieq Capital LLC owned 0.05% of Align Technology worth $8,139,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Baker Avenue Asset Management LP acquired a new stake in shares of Align Technology during the third quarter worth about $4,250,000. Swedbank AB lifted its holdings in shares of Align Technology by 30.1% during the third quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock worth $98,960,000 after purchasing an additional 90,000 shares during the period. KBC Group NV lifted its holdings in shares of Align Technology by 11.8% during the third quarter. KBC Group NV now owns 53,458 shares of the medical equipment provider’s stock worth $13,595,000 after purchasing an additional 5,663 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Align Technology by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock worth $56,870,000 after purchasing an additional 9,139 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Align Technology by 119.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider’s stock worth $35,368,000 after purchasing an additional 92,407 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Wells Fargo & Company assumed coverage on Align Technology in a report on Friday, February 14th. They set an “overweight” rating and a $255.00 target price for the company. Stifel Nicolaus decreased their target price on Align Technology from $285.00 to $275.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Leerink Partnrs raised Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Jefferies Financial Group decreased their price target on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Finally, Evercore ISI boosted their price target on Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Align Technology has an average rating of “Moderate Buy” and an average price target of $269.91.

Align Technology Price Performance

Align Technology stock opened at $198.06 on Friday. The stock has a market capitalization 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, Inc. has a 12 month low of $196.09 and a 12 month high of $335.40. The business has a 50 day simple moving average of $215.95 and a 200-day simple moving average of $224.29.

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%. On average, equities research analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal 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.