Aigen Investment Management LP Invests $835,000 in Align Technology, Inc. (NASDAQ:ALGN)

Aigen Investment Management LP purchased a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,047 shares of the medical equipment provider's stock, valued at approximately $835,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brown Advisory Inc. boosted its holdings in Align Technology by 41.4% during the fourth quarter. Brown Advisory Inc. now owns 1,509,080 shares of the medical equipment provider's stock valued at $413,488,000 after purchasing an additional 441,754 shares in the last quarter. Morgan Stanley boosted its holdings in Align Technology by 9.8% during the third quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider's stock valued at $310,866,000 after purchasing an additional 90,581 shares in the last quarter. Rhenman & Partners Asset Management AB acquired a new position in shares of Align Technology in the 3rd quarter worth approximately $305,000. Invesco Ltd. boosted its holdings in shares of Align Technology by 15.4% in the 3rd quarter. Invesco Ltd. now owns 960,271 shares of the medical equipment provider's stock worth $293,190,000 after acquiring an additional 128,273 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Align Technology by 2.7% in the 3rd quarter. Northern Trust Corp now owns 831,469 shares of the medical equipment provider's stock worth $253,864,000 after acquiring an additional 21,490 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Price Performance

Shares of Align Technology stock traded down $2.90 on Wednesday, hitting $261.12. 461,009 shares of the company's stock traded hands, compared to its average volume of 731,357. The firm's 50-day moving average price is $302.41 and its two-hundred day moving average price is $275.98. The stock has a market capitalization of $19.66 billion, a PE ratio of 43.02, a price-to-earnings-growth ratio of 4.91 and a beta of 1.66. Align Technology, Inc. has a one year low of $176.34 and a one year high of $413.20.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 EPS for the quarter, beating the consensus estimate of $1.54 by $0.08. The company had revenue of $997.43 million during the quarter, compared to analysts' expectations of $971.97 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. On average, analysts forecast that Align Technology, Inc. will post 7.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Align Technology

In related news, Director Joseph Lacob sold 10,000 shares of the company's stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the completion of the sale, the director now owns 146,994 shares in the company, valued at approximately $46,010,591.94. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.62% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ALGN. Stifel Nicolaus boosted their target price on Align Technology from $350.00 to $400.00 and gave the stock a "buy" rating in a report on Thursday, April 18th. The Goldman Sachs Group boosted their target price on Align Technology from $197.00 to $225.00 and gave the stock a "sell" rating in a report on Friday, February 2nd. UBS Group upped their price objective on Align Technology from $280.00 to $320.00 and gave the stock a "neutral" rating in a report on Monday, April 15th. Robert W. Baird upped their price objective on Align Technology from $333.00 to $370.00 and gave the stock an "outperform" rating in a report on Thursday, April 25th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $375.00 price objective (up previously from $355.00) on shares of Align Technology in a report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $353.00.

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.