Geode Capital Management LLC Has $372.30 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Geode Capital Management LLC lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 2.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,790,014 shares of the medical equipment provider’s stock after purchasing an additional 39,209 shares during the quarter. Geode Capital Management LLC’s holdings in Align Technology were worth $372,299,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ALGN. Wellington Management Group LLP boosted its stake in shares of Align Technology by 49.0% during 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 acquiring an additional 866,663 shares in the last quarter. Ninety One UK Ltd grew its holdings in Align Technology by 3.7% during the fourth quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider’s stock valued at $254,508,000 after purchasing an additional 43,524 shares during the last quarter. Norges Bank bought a new position in shares of Align Technology in the fourth quarter valued at approximately $190,792,000. Meridiem Investment Management Ltd. lifted its stake in shares of Align Technology by 63.7% in the fourth 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. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in shares of Align Technology by 6.4% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 753,026 shares of the medical equipment provider’s stock worth $191,510,000 after buying an additional 45,484 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ALGN shares. 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. 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 restated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Morgan Stanley cut their target price on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. Finally, Evercore ISI boosted their price objective on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and a consensus target price of $262.64.

Align Technology Price Performance

Align Technology stock opened at $153.51 on Friday. Align Technology, Inc. has a 52-week low of $143.00 and a 52-week high of $331.64. The stock has a fifty day moving average price of $186.45 and a two-hundred day moving average price of $211.96. The firm has a market capitalization of $11.24 billion, a P/E ratio of 27.36, a P/E/G ratio of 2.24 and a beta of 1.73.

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

Align Technology Company 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.