Aquatic Capital Management LLC Purchases New Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Aquatic Capital Management LLC purchased a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 39,316 shares of the medical equipment provider's stock, valued at approximately $8,198,000. Aquatic Capital Management LLC owned approximately 0.05% of Align Technology at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Align Technology in the fourth quarter valued at approximately $190,792,000. Meridiem Investment Management Ltd. increased its holdings in shares of Align Technology by 63.7% during the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider's stock worth $159,470,000 after buying an additional 297,472 shares during the last quarter. Senvest Management LLC raised its position in Align Technology by 58.1% in the fourth quarter. Senvest Management LLC now owns 726,243 shares of the medical equipment provider's stock valued at $151,429,000 after purchasing an additional 267,000 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in shares of Align Technology during the fourth quarter worth $47,853,000. Finally, Raymond James Financial Inc. purchased a new stake in Align Technology during the fourth quarter worth about $42,243,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Performance

NASDAQ ALGN traded up $3.44 during trading hours on Thursday, reaching $176.74. The company's stock had a trading volume of 2,693,312 shares, compared to its average volume of 900,407. Align Technology, Inc. has a fifty-two week low of $141.74 and a fifty-two week high of $295.69. The stock has a market cap of $12.94 billion, a PE ratio of 31.50, a PEG ratio of 2.24 and a beta of 1.73. The company's 50-day moving average is $168.84 and its two-hundred day moving average is $201.70.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.13. The firm had revenue of $979.26 million during the quarter, compared to the consensus estimate of $977.90 million. Align Technology had a net margin of 10.54% and a return on equity of 13.84%. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.14 EPS. Equities analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ALGN. Piper Sandler reiterated an "overweight" rating and issued a $250.00 target price (up from $235.00) on shares of Align Technology in a report on Thursday. Jefferies Financial Group reduced their target price on Align Technology from $285.00 to $260.00 and set a "buy" rating for the company in a report on Thursday, January 23rd. Mizuho cut their price target on Align Technology from $250.00 to $245.00 and set an "outperform" rating on the stock in a research report on Tuesday. Morgan Stanley cut their target price 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, Hsbc Global Res cut shares of Align Technology from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $241.25.

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.