Mizuho Markets Cayman LP Purchases Shares of 1,146 Align Technology, Inc. (NASDAQ:ALGN)

Mizuho Markets Cayman LP bought a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,146 shares of the medical equipment provider’s stock, valued at approximately $239,000. Align Technology comprises about 0.5% of Mizuho Markets Cayman LP’s holdings, making the stock its 19th largest position.

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

Align Technology Trading Down 0.1 %

Shares of NASDAQ ALGN opened at $168.61 on Friday. Align Technology, Inc. has a twelve month low of $158.13 and a twelve month high of $331.64. The business has a 50 day simple moving average of $198.78 and a 200-day simple moving average of $216.57. The company has a market capitalization of $12.41 billion, a price-to-earnings ratio of 30.06, a price-to-earnings-growth ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share 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%. As a group, equities analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ALGN shares. Wells Fargo & Company started coverage on Align Technology in a research report on Friday, February 14th. They issued an “overweight” rating and a $255.00 price objective on the stock. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $235.00 to $280.00 in a research note on Monday, January 6th. Piper Sandler reaffirmed an “overweight” rating and set a $235.00 price target (down from $270.00) on shares of Align Technology in a research report on Tuesday, March 18th. Finally, Jefferies Financial Group decreased their price target on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and an average price target of $266.73.

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.