Exchange Traded Concepts LLC reduced its position in Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 4.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,861 shares of the medical equipment provider’s stock after selling 201 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Align Technology were worth $805,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the company. Wellington Management Group LLP boosted its holdings in shares of Align Technology by 49.0% in the third quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after acquiring an additional 866,663 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Align Technology by 1.2% in 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 acquiring an additional 21,605 shares during the period. FMR LLC lifted its holdings in shares of Align Technology by 43.0% during the third quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after purchasing an additional 367,508 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in shares of Align Technology by 6.4% during the third quarter. Disciplined Growth Investors Inc. MN now owns 753,026 shares of the medical equipment provider’s stock worth $191,510,000 after purchasing an additional 45,484 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Align Technology by 96.3% during the third quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock worth $171,493,000 after purchasing an additional 330,807 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages recently weighed in on ALGN. Morgan Stanley decreased their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $235.00 to $280.00 in a report on Monday, January 6th. Piper Sandler decreased their price target on Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Evercore ISI decreased their price target on Align Technology from $270.00 to $250.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Robert W. Baird decreased their price target on Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $267.45.
Align Technology Stock Down 0.8 %
Shares of ALGN stock opened at $224.45 on Thursday. Align Technology, Inc. has a fifty-two week low of $196.09 and a fifty-two week high of $335.40. The stock has a market cap of $16.76 billion, a P/E ratio of 38.30, a P/E/G ratio of 5.14 and a beta of 1.67. The business has a fifty day simple moving average of $223.13 and a 200-day simple moving average of $227.22.
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.
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