1,734 Shares in Align Technology, Inc. (NASDAQ:ALGN) Acquired by GF Fund Management CO. LTD.

GF Fund Management CO. LTD. acquired a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,734 shares of the medical equipment provider's stock, valued at approximately $362,000.

Other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management boosted its stake in Align Technology by 69.9% in the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock valued at $30,000 after acquiring an additional 58 shares in the last quarter. GKV Capital Management Co. Inc. acquired a new stake in Align Technology in the fourth quarter valued at approximately $31,000. Aster Capital Management DIFC Ltd acquired a new stake in Align Technology in the fourth quarter valued at approximately $35,000. Private Trust Co. NA boosted its stake in Align Technology by 113.4% in the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock valued at $36,000 after acquiring an additional 93 shares in the last quarter. Finally, Orion Capital Management LLC acquired a new stake in Align Technology in the fourth quarter valued at approximately $42,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Mizuho lowered their target price on shares of Align Technology from $250.00 to $245.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. UBS Group lowered their price objective on shares of Align Technology from $240.00 to $215.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. HSBC downgraded shares of Align Technology from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $290.00 to $170.00 in a research note on Friday, April 25th. Needham & Company LLC reiterated a "hold" rating on shares of Align Technology in a research note on Thursday, May 1st. Finally, Hsbc Global Res downgraded shares of Align Technology from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Align Technology has an average rating of "Moderate Buy" and an average price target of $241.25.

Align Technology Stock Down 1.8%

NASDAQ:ALGN traded down $3.36 on Friday, hitting $179.70. The stock had a trading volume of 396,677 shares, compared to its average volume of 920,331. The stock has a market cap of $13.03 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 2.24 and a beta of 1.68. The company has a fifty day moving average price of $171.75 and a two-hundred day moving average price of $196.51. Align Technology, Inc. has a 1-year low of $141.74 and a 1-year high of $271.59.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.13. The business had revenue of $979.26 million for 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 business's revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.14 EPS. As a group, analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Align Technology announced that its Board of Directors has authorized a stock repurchase program on Tuesday, May 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical equipment provider to purchase up to 7.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

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.