SBI Securities Co. Ltd. Makes New Investment in Align Technology, Inc. (NASDAQ:ALGN)

SBI Securities Co. Ltd. acquired a new position in Align Technology, Inc. (NASDAQ:ALGN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 585 shares of the medical equipment provider’s stock, valued at approximately $122,000.

Other institutional investors have also added to or reduced their stakes in the company. True Wealth Design LLC raised its holdings in Align Technology by 10,700.0% in the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 107 shares in the last quarter. Neo Ivy Capital Management bought a new position in Align Technology in the 3rd quarter worth $32,000. Private Trust Co. NA raised its holdings 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 worth $36,000 after purchasing an additional 93 shares in the last quarter. Versant Capital Management Inc raised its holdings in Align Technology by 212.2% in the 4th quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after purchasing an additional 157 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new position in Align Technology in the 4th quarter worth $52,000. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Up 1.0 %

Shares of NASDAQ ALGN opened at $173.75 on Friday. The firm’s 50-day moving average price is $208.02 and its 200-day moving average price is $221.37. The company has a market cap of $12.79 billion, a PE ratio of 30.97, a PEG ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 52-week low of $167.32 and a 52-week high of $335.40.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on ALGN shares. Jefferies Financial Group reduced 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 report on Thursday, January 23rd. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. Evercore ISI upped their target price on shares of Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research report on Thursday, February 6th. Bank of America upped their target price on shares of Align Technology from $200.00 to $206.00 and gave the stock an “underperform” rating in a research report on Friday, December 13th. Finally, Wells Fargo & Company started coverage on shares of Align Technology in a research report on Friday, February 14th. They issued an “overweight” rating and a $255.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $269.91.

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.