Headlands Technologies LLC Acquires Shares of 10,706 Align Technology, Inc. (NASDAQ:ALGN)

Headlands Technologies LLC bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,706 shares of the medical equipment provider’s stock, valued at approximately $2,232,000.

Several other institutional investors and hedge funds have also made changes to their positions in ALGN. Picton Mahoney Asset Management increased its stake in Align Technology by 69.9% in the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 58 shares during the period. Smartleaf Asset Management LLC increased its position in shares of Align Technology by 9.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 766 shares of the medical equipment provider’s stock worth $158,000 after acquiring an additional 64 shares during the period. Beech Hill Advisors Inc. raised its stake in shares of Align Technology by 0.6% during the fourth quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider’s stock valued at $2,425,000 after acquiring an additional 65 shares in the last quarter. New York Life Investment Management LLC boosted its holdings in shares of Align Technology by 0.7% in the fourth quarter. New York Life Investment Management LLC now owns 9,406 shares of the medical equipment provider’s stock valued at $1,961,000 after purchasing an additional 68 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Align Technology by 1.2% in 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 purchasing an additional 91 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Price Performance

Shares of ALGN stock opened at $158.08 on Wednesday. The stock’s fifty day moving average price is $191.02 and its 200 day moving average price is $213.38. Align Technology, Inc. has a 1-year low of $153.77 and a 1-year high of $331.64. The company has a market cap of $11.63 billion, a price-to-earnings ratio of 28.18, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on ALGN shares. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Mizuho dropped their target price on shares of Align Technology from $295.00 to $250.00 and set an “outperform” rating on the stock in a report on Tuesday, March 25th. Morgan Stanley reduced their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Finally, Wells Fargo & Company started coverage on shares of Align Technology in a research note on Friday, February 14th. They set an “overweight” rating and a $255.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Align Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.64.

Align Technology Company 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.