624 Shares in Align Technology, Inc. (NASDAQ:ALGN) Acquired by Symmetry Partners LLC

Symmetry Partners LLC bought a new position in Align Technology, Inc. (NASDAQ:ALGN) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 624 shares of the medical equipment provider’s stock, valued at approximately $205,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALGN. Orion Capital Management LLC purchased a new position in shares of Align Technology in the third quarter worth approximately $61,000. Operose Advisors LLC purchased a new position in shares of Align Technology in the third quarter worth approximately $63,000. Covestor Ltd increased its position in shares of Align Technology by 379.5% in the third quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock worth $64,000 after acquiring an additional 167 shares in the last quarter. Valley National Advisers Inc. increased its position in shares of Align Technology by 29.7% in the third quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock worth $65,000 after acquiring an additional 49 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Align Technology by 97.2% in the fourth quarter. Venturi Wealth Management LLC now owns 280 shares of the medical equipment provider’s stock worth $77,000 after acquiring an additional 138 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ALGN has been the topic of several analyst reports. Morgan Stanley lifted their target price on shares of Align Technology from $344.00 to $360.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Evercore ISI lowered their price objective on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 10th. Piper Sandler reaffirmed an “overweight” rating and set a $375.00 price objective (up from $355.00) on shares of Align Technology in a research report on Thursday, April 25th. SVB Leerink initiated coverage on shares of Align Technology in a research report on Monday, February 26th. They set a “market perform” rating and a $310.00 price objective on the stock. Finally, Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $351.00.

Align Technology Price Performance

Shares of ALGN traded down $3.32 during trading hours on Tuesday, hitting $242.20. The stock had a trading volume of 884,107 shares, compared to its average volume of 760,160. The company’s fifty day moving average is $279.46 and its two-hundred day moving average is $282.72. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $413.20. The stock has a market capitalization of $18.23 billion, a price-to-earnings ratio of 40.26, a P/E/G ratio of 4.74 and a beta of 1.62.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.08. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. The business had revenue of $997.43 million for the quarter, compared to analyst estimates of $971.97 million. Equities analysts predict that Align Technology, Inc. will post 7.86 EPS for the current fiscal year.

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.