Tower Research Capital LLC TRC grew its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 207.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,105 shares of the medical equipment provider's stock after buying an additional 3,446 shares during the quarter. Tower Research Capital LLC TRC's holdings in Align Technology were worth $1,064,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB lifted its holdings in shares of Align Technology by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider's stock valued at $56,870,000 after purchasing an additional 9,139 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Align Technology by 119.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider's stock worth $35,368,000 after purchasing an additional 92,407 shares during the last quarter. Swedbank AB lifted its stake in Align Technology by 25.0% in the 4th quarter. Swedbank AB now owns 486,267 shares of the medical equipment provider's stock valued at $101,392,000 after buying an additional 97,152 shares in the last quarter. Principal Securities Inc. grew its holdings in Align Technology by 34.5% during the 4th quarter. Principal Securities Inc. now owns 1,881 shares of the medical equipment provider's stock valued at $392,000 after buying an additional 483 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in Align Technology by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider's stock worth $1,626,000 after buying an additional 91 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on ALGN. Mizuho decreased their price objective on Align Technology from $250.00 to $245.00 and set an "outperform" rating on the stock in a research note on Tuesday. Hsbc Global Res downgraded shares of Align Technology from a "strong-buy" rating to a "hold" rating in a report on Friday, April 25th. UBS Group cut 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 report on Thursday, April 24th. Morgan Stanley decreased their target price on shares of Align Technology from $280.00 to $272.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. Finally, Evercore ISI boosted their price target on Align Technology from $240.00 to $260.00 and gave the company an "outperform" rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $245.75.
Read Our Latest Stock Report on Align Technology
Align Technology Stock Performance
Align Technology stock traded down $4.33 during trading on Wednesday, reaching $173.42. 301,610 shares of the company's stock were exchanged, compared to its average volume of 885,957. The company's 50-day moving average is $169.18 and its two-hundred day moving average is $201.89. Align Technology, Inc. has a 52-week low of $141.74 and a 52-week high of $300.00. The firm has a market cap of $12.70 billion, a price-to-earnings ratio of 30.91, a PEG ratio of 2.24 and a beta of 1.73.
Align Technology (NASDAQ:ALGN - Get Free Report) last posted its earnings results 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%. Analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current year.
About Align Technology
(
Free Report)
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.
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