Landscape Capital Management L.L.C. Lowers Position in Align Technology, Inc. (NASDAQ:ALGN)

Landscape Capital Management L.L.C. reduced its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 38.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 5,100 shares of the medical equipment provider’s stock after selling 3,238 shares during the period. Landscape Capital Management L.L.C.’s holdings in Align Technology were worth $1,063,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ALGN. Norges Bank purchased a new stake in Align Technology during the fourth quarter valued at about $190,792,000. Wellington Management Group LLP boosted its stake in shares of Align Technology by 49.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after purchasing an additional 866,663 shares in the last quarter. Meridiem Investment Management Ltd. grew its holdings in shares of Align Technology by 63.7% during the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock worth $159,470,000 after acquiring an additional 297,472 shares during the period. Raymond James Financial Inc. purchased a new stake in Align Technology in the fourth quarter worth $42,243,000. Finally, Amundi grew its position in shares of Align Technology by 77.6% in the 4th quarter. Amundi now owns 360,813 shares of the medical equipment provider’s stock worth $77,708,000 after buying an additional 157,654 shares during the period. Institutional investors own 88.43% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ALGN. Leerink Partnrs upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Wells Fargo & Company began coverage on shares of Align Technology in a research note on Friday, February 14th. They issued an “overweight” rating and a $255.00 price target for the company. Mizuho reduced their price objective on Align Technology from $295.00 to $250.00 and set an “outperform” rating for the company in a research report on Tuesday, March 25th. Evercore ISI upped their target price 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. Finally, Jefferies Financial Group decreased their price objective on Align Technology from $285.00 to $260.00 and set a “buy” rating on the stock in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Align Technology currently has an average rating of “Moderate Buy” and a consensus price target of $262.64.

Align Technology Trading Down 0.5 %

Shares of ALGN stock opened at $153.51 on Friday. The stock has a market capitalization of $11.24 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 2.24 and a beta of 1.73. Align Technology, Inc. has a 12-month low of $143.00 and a 12-month high of $331.64. The stock’s 50-day moving average price is $186.45 and its 200-day moving average price is $211.67.

Align Technology (NASDAQ:ALGN) last announced 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 predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Align Technology Company 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.