3,500 Shares in Align Technology, Inc. (NASDAQ:ALGN) Purchased by Harbert Fund Advisors Inc.

Harbert Fund Advisors Inc. acquired a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 3,500 shares of the medical equipment provider’s stock, valued at approximately $730,000.

Other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp raised its holdings in shares of Align Technology by 2.8% in the third quarter. Stifel Financial Corp now owns 33,864 shares of the medical equipment provider’s stock worth $8,612,000 after acquiring an additional 936 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Align Technology by 8.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 20,882 shares of the medical equipment provider’s stock worth $5,311,000 after purchasing an additional 1,678 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Align Technology by 1.2% during the third quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock valued at $443,810,000 after buying an additional 21,605 shares during the period. Coldstream Capital Management Inc. grew its stake in Align Technology by 9.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,251 shares of the medical equipment provider’s stock worth $566,000 after acquiring an additional 191 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in Align Technology in the 3rd quarter valued at $32,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Down 3.0 %

ALGN opened at $160.14 on Friday. The firm has a market capitalization of $11.72 billion, a P/E ratio of 28.55, a P/E/G ratio of 2.24 and a beta of 1.73. The firm’s 50 day moving average is $178.28 and its 200-day moving average is $207.89. Align Technology, Inc. has a 52-week low of $141.74 and a 52-week high of $331.64.

Align Technology (NASDAQ:ALGN) last released 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 return on equity of 13.84% and a net margin of 10.54%. Equities analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALGN has been the topic of a number of research analyst reports. Mizuho decreased their price target on Align Technology from $295.00 to $250.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 25th. Morgan Stanley lowered their target price on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating for the company in a report on Thursday, February 6th. Evercore ISI increased their price target on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research note on Thursday, February 6th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Finally, Jefferies Financial Group cut their target price 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $262.64.

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.