Quantbot Technologies LP Increases Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Quantbot Technologies LP increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 2,071.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 37,849 shares of the medical equipment provider’s stock after acquiring an additional 36,106 shares during the period. Quantbot Technologies LP’s holdings in Align Technology were worth $7,892,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its position in shares of Align Technology by 49.0% during the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after purchasing an additional 866,663 shares in the last quarter. Holocene Advisors LP bought a new position in shares of Align Technology during the third quarter valued at approximately $137,287,000. FMR LLC increased its position in Align Technology by 43.0% during the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock valued at $310,736,000 after buying an additional 367,508 shares in the last quarter. Point72 Asset Management L.P. boosted its stake in Align Technology by 96.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock worth $171,493,000 after purchasing an additional 330,807 shares in the last quarter. Finally, Meridiem Investment Management Ltd. increased its stake in Align Technology by 63.7% during the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock valued at $159,470,000 after purchasing an additional 297,472 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Price Performance

Align Technology stock opened at $160.51 on Friday. Align Technology, Inc. has a 1-year low of $158.13 and a 1-year high of $335.40. The business has a fifty day moving average price of $204.45 and a 200-day moving average price of $219.44. The stock has a market capitalization of $11.81 billion, a price-to-earnings ratio of 28.61, a PEG ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last issued 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 return on equity of 13.84% and a net margin of 10.54%. On average, equities research analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALGN has been the subject of a number of recent analyst reports. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Morgan Stanley lowered 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 note on Thursday, February 6th. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $235.00 to $280.00 in a research note on Monday, January 6th. Piper Sandler cut their target price on Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Finally, Mizuho assumed coverage on Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $269.91.

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.