Beech Hill Advisors Inc. Acquires 65 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Beech Hill Advisors Inc. grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,632 shares of the medical equipment provider’s stock after buying an additional 65 shares during the quarter. Beech Hill Advisors Inc.’s holdings in Align Technology were worth $2,425,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Assenagon Asset Management S.A. lifted its holdings in shares of Align Technology by 54.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 189,022 shares of the medical equipment provider’s stock worth $39,413,000 after acquiring an additional 66,756 shares during the last quarter. Fulcrum Capital LLC lifted its stake in Align Technology by 5.6% in the fourth quarter. Fulcrum Capital LLC now owns 9,212 shares of the medical equipment provider’s stock worth $1,921,000 after acquiring an additional 489 shares during the period. Czech National Bank grew its holdings in Align Technology by 6.4% during the 4th quarter. Czech National Bank now owns 15,216 shares of the medical equipment provider’s stock worth $3,173,000 after acquiring an additional 913 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Align Technology by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,799 shares of the medical equipment provider’s stock valued at $1,626,000 after purchasing an additional 91 shares during the period. Finally, Nordea Investment Management AB increased its position in Align Technology by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 273,664 shares of the medical equipment provider’s stock valued at $56,870,000 after purchasing an additional 9,139 shares during the period. Institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

ALGN has been the topic of a number of recent research reports. Mizuho initiated coverage on shares of Align Technology in a research note on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective on the stock. Stifel Nicolaus cut their price objective on shares of Align Technology from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Bank of America lifted their price target on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a report on Friday, December 13th. Piper Sandler reduced their target price on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and an average target price of $268.20.

Align Technology Price Performance

NASDAQ:ALGN traded down $0.96 during mid-day trading on Thursday, hitting $214.82. The company’s stock had a trading volume of 32,073 shares, compared to its average volume of 541,578. The business’s fifty day moving average is $222.28 and its two-hundred day moving average is $228.53. The stock has a market cap of $16.04 billion, a price-to-earnings ratio of 36.66, a PEG ratio of 4.64 and a beta of 1.67. Align Technology, Inc. has a 1 year low of $196.09 and a 1 year high of $335.40.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The firm had revenue of $977.87 million for the quarter, compared to analyst estimates of $990.05 million. During the same period last year, the company earned $1.62 earnings per share. Align Technology’s revenue for the quarter was up 1.8% compared to the same quarter last year. Analysts anticipate that Align Technology, Inc. will post 7.44 EPS for the current fiscal year.

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.