Giverny Capital Inc. Grows Stake in Align Technology, Inc. (NASDAQ:ALGN)

Giverny Capital Inc. grew its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 30.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 43,006 shares of the medical equipment provider's stock after acquiring an additional 10,013 shares during the period. Giverny Capital Inc. owned about 0.06% of Align Technology worth $8,967,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Picton Mahoney Asset Management lifted its position in Align Technology by 69.9% during the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider's stock valued at $30,000 after buying an additional 58 shares during the period. Aster Capital Management DIFC Ltd purchased a new position in Align Technology during the 4th quarter valued at about $35,000. Private Trust Co. NA boosted its stake in Align Technology by 113.4% during the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider's stock worth $36,000 after acquiring an additional 93 shares in the last quarter. Versant Capital Management Inc boosted its stake in Align Technology by 212.2% during the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider's stock worth $48,000 after acquiring an additional 157 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Align Technology in the fourth quarter worth about $52,000. Institutional investors own 88.43% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on ALGN shares. Jefferies Financial Group cut their price target on Align Technology from $285.00 to $260.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. Evercore ISI upped their price target on shares of Align Technology from $240.00 to $260.00 and gave the stock an "outperform" rating in a research note on Thursday, February 6th. Leerink Partnrs upgraded shares of Align Technology from a "hold" rating to a "strong-buy" rating in a research note on Monday, January 6th. Piper Sandler reiterated an "overweight" rating and issued a $235.00 target price (down previously from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. Finally, Mizuho reduced their price target on shares of Align Technology from $295.00 to $250.00 and set an "outperform" rating for the company in a research report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $256.90.

Align Technology Price Performance

Align Technology stock traded up $4.23 during mid-day trading on Friday, reaching $171.41. 816,188 shares of the stock traded hands, compared to its average volume of 874,117. The stock has a market capitalization of $12.55 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73. The business's 50-day moving average is $173.49 and its 200-day moving average is $205.29. Align Technology, Inc. has a 12-month low of $141.74 and a 12-month high of $327.49.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (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%. Equities analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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.