EFG Asset Management North America Corp. Increases Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

EFG Asset Management North America Corp. lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 6.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,411 shares of the medical equipment provider’s stock after buying an additional 966 shares during the period. EFG Asset Management North America Corp.’s holdings in Align Technology were worth $3,214,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ALGN. True Wealth Design LLC grew its holdings 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 acquiring an additional 107 shares during the period. Picton Mahoney Asset Management boosted its position in shares of Align Technology by 69.9% during the 4th 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 acquired a new position in shares of Align Technology during the 3rd quarter worth $32,000. Private Trust Co. NA increased its holdings in shares of Align Technology by 113.4% in the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 93 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Align Technology by 212.2% in the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after purchasing an additional 157 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on ALGN shares. Mizuho assumed 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. Bank of America upped their price target on Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Morgan Stanley lowered their target price on Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $235.00 price target (down previously from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and an average price target of $266.73.

Align Technology Price Performance

Align Technology stock opened at $170.37 on Tuesday. The stock has a market capitalization of $12.54 billion, a P/E ratio of 30.37, a P/E/G ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 12-month low of $158.13 and a 12-month high of $331.64. The firm’s 50-day moving average is $197.91 and its two-hundred day moving average is $216.13.

Align Technology (NASDAQ:ALGN) last released its earnings results 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 return on equity of 13.84% and a net margin of 10.54%. As a group, analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current 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.