Daiwa Securities Group Inc. Acquires 654 Shares of Align Technology, Inc. (NASDAQ:ALGN)

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

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Empirical Finance LLC boosted its stake in Align Technology by 2.1% in the third quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock valued at $632,000 after acquiring an additional 50 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Align Technology by 9.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 766 shares of the medical equipment provider’s stock valued at $158,000 after acquiring an additional 64 shares during the last quarter. Beech Hill Advisors Inc. boosted its stake in Align Technology by 0.6% in 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 acquiring an additional 65 shares during the last quarter. New York Life Investment Management LLC boosted its stake in 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 valued at $1,961,000 after acquiring an additional 68 shares during 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 purchasing an additional 91 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ALGN. Evercore ISI lifted their price target on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Bank of America lifted their price target on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Mizuho began coverage on shares of Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price target on the stock. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Finally, Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Align Technology presently has an average rating of “Moderate Buy” and an average price target of $269.91.

Align Technology Stock Up 3.5 %

Shares of 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 PEG ratio of 2.24 and a beta of 1.69. The company’s 50 day moving average price is $203.61 and its two-hundred day moving average price is $218.99. Align Technology, Inc. has a 12-month low of $158.13 and a 12-month high of $335.40.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 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%. On average, research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

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.