Mizuho Securities USA LLC Boosts Stake in Align Technology, Inc. (NASDAQ:ALGN)

Mizuho Securities USA LLC raised its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 46.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,651 shares of the medical equipment provider’s stock after acquiring an additional 2,098 shares during the period. Mizuho Securities USA LLC’s holdings in Align Technology were worth $1,387,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Picton Mahoney Asset Management increased its position in shares of Align Technology by 69.9% in 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 during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Align Technology by 9.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 766 shares of the medical equipment provider’s stock worth $158,000 after buying an additional 64 shares during the last quarter. Beech Hill Advisors Inc. increased its holdings in shares of Align Technology by 0.6% in the 4th quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider’s stock worth $2,425,000 after buying an additional 65 shares during the last quarter. New York Life Investment Management LLC raised its position in shares of Align Technology by 0.7% during the 4th quarter. New York Life Investment Management LLC now owns 9,406 shares of the medical equipment provider’s stock valued at $1,961,000 after buying an additional 68 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Align Technology by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider’s stock worth $1,626,000 after acquiring an additional 91 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Analysts Set New Price Targets

ALGN has been the subject of several research analyst reports. Jefferies Financial Group dropped their price target on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company initiated coverage on Align Technology in a research report on Friday, February 14th. They issued an “overweight” rating and a $255.00 target price for the company. Evercore ISI lifted 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. Leerink Partnrs upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Align Technology has a consensus rating of “Moderate Buy” and an average price target of $262.64.

Align Technology Trading Down 0.2 %

Shares of NASDAQ:ALGN opened at $170.00 on Wednesday. The company has a 50-day moving average price of $197.10 and a 200-day moving average price of $215.77. The company has a market cap of $12.51 billion, a price-to-earnings ratio of 30.30, a price-to-earnings-growth 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.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 EPS for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. As a group, research analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal 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.