Xponance Inc. Lowers Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Xponance Inc. decreased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,071 shares of the medical equipment provider’s stock after selling 83 shares during the quarter. Xponance Inc.’s holdings in Align Technology were worth $2,934,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ALGN. True Wealth Design LLC boosted its position in Align Technology by 10,700.0% during the third quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 107 shares in the last quarter. Picton Mahoney Asset Management boosted its position in Align Technology by 69.9% during the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 58 shares in the last quarter. Neo Ivy Capital Management purchased a new position in Align Technology during the third quarter worth approximately $32,000. Private Trust Co. NA boosted its position in Align Technology by 113.4% during the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 93 shares in the last quarter. Finally, Versant Capital Management Inc boosted its position in Align Technology by 212.2% during the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after purchasing an additional 157 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Jefferies Financial Group lowered their price target on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research report on Thursday, January 23rd. Morgan Stanley reduced their target price on Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Bank of America increased their target price on Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Wells Fargo & Company began coverage on Align Technology in a report on Friday, February 14th. They set an “overweight” rating and a $255.00 target price for the company. Finally, Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and increased their target price for the company from $235.00 to $280.00 in a report on Monday, January 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.73.

Align Technology Stock Performance

Shares of Align Technology stock opened at $168.61 on Friday. The firm has a market capitalization of $12.41 billion, a price-to-earnings ratio of 30.06, a PEG ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a fifty-two week low of $158.13 and a fifty-two week high of $331.64. The stock has a 50 day moving average of $198.78 and a 200 day moving average of $216.64.

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