Aigen Investment Management LP Takes $349,000 Position in Align Technology, Inc. (NASDAQ:ALGN)

Aigen Investment Management LP purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,674 shares of the medical equipment provider’s stock, valued at approximately $349,000.

Several other large investors have also modified their holdings of ALGN. Wellington Management Group LLP grew its position in shares of Align Technology by 49.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock worth $670,031,000 after buying an additional 866,663 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of Align Technology in the 3rd quarter worth approximately $137,287,000. FMR LLC grew its position in shares of Align Technology by 43.0% in the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after buying an additional 367,508 shares during the last quarter. Point72 Asset Management L.P. grew its position in shares of 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 buying an additional 330,807 shares during the last quarter. Finally, Meridiem Investment Management Ltd. grew its position in shares of Align Technology by 63.7% in the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock worth $159,470,000 after buying an additional 297,472 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company assumed coverage on shares of Align Technology in a research report on Friday, February 14th. They issued an “overweight” rating and a $255.00 price objective on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Bank of America lifted their price objective on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Piper Sandler dropped their target price on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Mizuho began coverage on shares of Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $269.91.

Align Technology Price Performance

ALGN stock opened at $173.75 on Friday. The firm’s fifty day simple moving average is $208.02 and its 200-day simple moving average is $221.29. The company has a market capitalization of $12.79 billion, a P/E ratio of 30.97, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 12 month low of $167.32 and a 12 month high of $335.40.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 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, sell-side analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current 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.