Nebula Research & Development LLC Purchases 3,250 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Nebula Research & Development LLC raised its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 59.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 8,709 shares of the medical equipment provider's stock after purchasing an additional 3,250 shares during the quarter. Nebula Research & Development LLC's holdings in Align Technology were worth $1,816,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ALGN. Leerink Partners raised Align Technology from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. Evercore ISI upped their target price 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. Wells Fargo & Company assumed coverage on shares of Align Technology in a research report on Friday, February 14th. They set an "overweight" rating and a $255.00 price target for the company. Morgan Stanley dropped their price target 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 downgraded shares of Align Technology from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Align Technology presently has an average rating of "Moderate Buy" and an average price target of $245.75.

Align Technology Stock Down 2.5 %

ALGN traded down $4.38 during trading on Wednesday, reaching $173.37. The company had a trading volume of 2,168,416 shares, compared to its average volume of 894,354. Align Technology, Inc. has a 52 week low of $141.74 and a 52 week high of $300.00. The stock has a market cap of $12.69 billion, a P/E ratio of 30.90, a PEG ratio of 2.24 and a beta of 1.73. The business has a 50 day simple moving average of $169.18 and a 200-day simple moving average of $201.89.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts' consensus estimates of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. As a group, equities research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal 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.