Stifel Financial Corp Raises Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Stifel Financial Corp increased its position in Align Technology, Inc. (NASDAQ:ALGN) by 0.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 34,003 shares of the medical equipment provider’s stock after purchasing an additional 139 shares during the period. Stifel Financial Corp’s holdings in Align Technology were worth $7,090,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Picton Mahoney Asset Management boosted its holdings 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 valued at $30,000 after acquiring an additional 58 shares during the period. GKV Capital Management Co. Inc. purchased a new stake in Align Technology in the 4th quarter valued at $31,000. Aster Capital Management DIFC Ltd acquired a new stake in Align Technology during the 4th quarter worth $35,000. Private Trust Co. NA grew its position 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 during the last quarter. Finally, Versant Capital Management Inc increased its stake in Align Technology by 212.2% in the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after purchasing an additional 157 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Stock Performance

Shares of NASDAQ:ALGN opened at $181.09 on Tuesday. The business’s 50-day simple moving average is $169.59 and its 200 day simple moving average is $202.06. The company has a market cap of $13.26 billion, a P/E ratio of 32.28, a PEG ratio of 2.24 and a beta of 1.73. Align Technology, Inc. has a one year low of $141.74 and a one year high of $313.29.

Align Technology (NASDAQ:ALGN) last posted its 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 return on equity of 13.84% and a net margin of 10.54%. Analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analyst Ratings Changes

ALGN has been the subject of several recent research reports. Morgan Stanley lowered their price target on Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. Wells Fargo & Company began coverage on Align Technology in a report on Friday, February 14th. They issued an “overweight” rating and a $255.00 target price on the stock. Evercore ISI increased their price target on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a report on Thursday, February 6th. Finally, HSBC cut shares of Align Technology from a “buy” rating to a “hold” rating and dropped their price objective for the company from $290.00 to $170.00 in a research note on Friday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $246.17.

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.