Align Technology, Inc. (NASDAQ:ALGN) Holdings Boosted by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC grew its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.0% in the 4th quarter, Holdings Channel reports. The firm owned 115,104 shares of the medical equipment provider’s stock after acquiring an additional 5,518 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in Align Technology were worth $24,000,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Picton Mahoney Asset Management grew its stake in Align Technology by 69.9% during the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 58 shares during the last quarter. GKV Capital Management Co. Inc. bought a new position in shares of Align Technology during the fourth quarter worth about $31,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of Align Technology in the 4th quarter worth about $35,000. Private Trust Co. NA lifted its position in Align Technology by 113.4% in the 4th quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after purchasing an additional 93 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Align Technology by 212.2% during the 4th 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 currently owned by institutional investors and hedge funds.

Align Technology Price Performance

ALGN stock opened at $179.82 on Friday. The firm has a market cap of $13.16 billion, a PE ratio of 32.05, a P/E/G ratio of 2.24 and a beta of 1.73. Align Technology, Inc. has a 12 month low of $141.74 and a 12 month high of $295.69. The firm has a 50 day simple moving average of $168.42 and a 200 day simple moving average of $201.12.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, April 30th. The medical equipment provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.13. The company had revenue of $979.26 million during the quarter, compared to the consensus estimate of $977.90 million. Align Technology had a return on equity of 13.84% and a net margin of 10.54%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.14 EPS. As a group, sell-side analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

ALGN has been the topic of a number of recent analyst reports. Morgan Stanley cut 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. Hsbc Global Res lowered Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 25th. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and raised their price target for the company from $235.00 to $280.00 in a report on Monday, January 6th. Evercore ISI upped their price objective on shares of Align Technology from $165.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Jefferies Financial Group lowered their target price on shares of 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 analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $241.25.

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.