Align Technology, Inc. (NASDAQ:ALGN) Stake Lessened by Annandale Capital LLC

Annandale Capital LLC decreased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,233 shares of the medical equipment provider’s stock after selling 79 shares during the quarter. Annandale Capital LLC’s holdings in Align Technology were worth $1,091,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in 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 worth $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 2.2% during the fourth quarter. Geode Capital Management LLC now owns 1,790,014 shares of the medical equipment provider’s stock worth $372,299,000 after purchasing an additional 39,209 shares during the period. Ninety One UK Ltd grew its position in Align Technology by 3.7% during the fourth quarter. Ninety One UK Ltd now owns 1,220,601 shares of the medical equipment provider’s stock valued at $254,508,000 after purchasing an additional 43,524 shares in the last quarter. Norges Bank acquired a new position in Align Technology in the 4th quarter valued at approximately $190,792,000. Finally, Meridiem Investment Management Ltd. lifted its position in Align Technology by 63.7% in the 4th quarter. Meridiem Investment Management Ltd. now owns 764,732 shares of the medical equipment provider’s stock worth $159,470,000 after buying an additional 297,472 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Morgan Stanley lowered their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Wells Fargo & Company started coverage on Align Technology in a research report on Friday, February 14th. They issued an “overweight” rating and a $255.00 target price on the stock. Mizuho reduced their price target on Align Technology from $295.00 to $250.00 and set an “outperform” rating for the company in a report on Tuesday, March 25th. Leerink Partners upgraded 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 report on Monday, January 6th. Finally, Evercore ISI lifted their target price on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $262.64.

Align Technology Trading Down 0.5 %

NASDAQ:ALGN opened at $153.51 on Friday. The firm has a market capitalization of $11.24 billion, a PE ratio of 27.36, a PEG ratio of 2.24 and a beta of 1.73. Align Technology, Inc. has a 1 year low of $143.00 and a 1 year high of $331.64. The firm’s fifty day simple moving average is $186.45 and its 200 day simple moving average is $211.96.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share (EPS) 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%. As a group, analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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.