Align Technology, Inc. (NASDAQ:ALGN) Shares Bought by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC increased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 13.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,673 shares of the medical equipment provider’s stock after buying an additional 200 shares during the period. Sequoia Financial Advisors LLC’s holdings in Align Technology were worth $349,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Swedbank AB boosted its stake in Align Technology by 30.1% in the third quarter. Swedbank AB now owns 389,115 shares of the medical equipment provider’s stock valued at $98,960,000 after acquiring an additional 90,000 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Align Technology by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock worth $56,870,000 after purchasing an additional 9,139 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Align Technology by 119.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider’s stock valued at $35,368,000 after purchasing an additional 92,407 shares during the period. Fisher Asset Management LLC grew its stake in Align Technology by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 105,770 shares of the medical equipment provider’s stock worth $26,900,000 after buying an additional 2,717 shares during the last quarter. Finally, National Bank of Canada FI increased its position in Align Technology by 25.7% in the third quarter. National Bank of Canada FI now owns 40,826 shares of the medical equipment provider’s stock worth $10,383,000 after buying an additional 8,338 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Stock Down 3.0 %

Shares of ALGN stock opened at $164.53 on Wednesday. The stock has a 50-day simple moving average of $201.57 and a 200 day simple moving average of $217.81. Align Technology, Inc. has a fifty-two week low of $158.13 and a fifty-two week high of $335.40. The stock has a market capitalization of $12.11 billion, a P/E ratio of 29.33, a P/E/G ratio of 2.24 and a beta of 1.69.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share 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, sell-side analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analysts Set New Price Targets

ALGN has been the subject of several analyst reports. Evercore ISI boosted their price target on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Leerink Partners upgraded shares of Align Technology from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. Jefferies Financial Group cut their price target on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. Finally, Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have assigned a buy rating and one has issued 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 $266.73.

About Align Technology

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.