Townsquare Capital LLC Has $2.79 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Townsquare Capital LLC grew its stake in Align Technology, Inc. (NASDAQ:ALGN) by 6.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 13,355 shares of the medical equipment provider’s stock after buying an additional 849 shares during the period. Townsquare Capital LLC’s holdings in Align Technology were worth $2,785,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Picton Mahoney Asset Management grew its stake in 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 acquiring an additional 58 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of Align Technology in the fourth quarter valued at approximately $35,000. Private Trust Co. NA increased its holdings in Align Technology by 113.4% during the 4th 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. Versant Capital Management Inc raised its position in 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 buying an additional 157 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Align Technology in the fourth quarter worth $52,000. 88.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Mizuho lowered their target price on Align Technology from $295.00 to $250.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 25th. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Evercore ISI upped their price target on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research note on Thursday, February 6th. Finally, Piper Sandler restated an “overweight” rating and set a $235.00 price objective (down from $270.00) on shares of Align Technology in a research note on Tuesday, March 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $256.90.

Align Technology Stock Performance

ALGN stock opened at $164.15 on Wednesday. Align Technology, Inc. has a 52 week low of $141.74 and a 52 week high of $327.49. The company has a market capitalization of $12.02 billion, a PE ratio of 29.26, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73. The company’s 50-day simple moving average is $175.16 and its 200 day simple moving average is $206.13.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) 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%. On average, 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.