E Fund Management Co. Ltd. Has $320,000 Position in Align Technology, Inc. (NASDAQ:ALGN)

E Fund Management Co. Ltd. grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 79.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,533 shares of the medical equipment provider’s stock after acquiring an additional 678 shares during the period. E Fund Management Co. Ltd.’s holdings in Align Technology were worth $320,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. True Wealth Design LLC grew its holdings in Align Technology by 10,700.0% during the 3rd quarter. True Wealth Design LLC now owns 108 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 107 shares during the period. Neo Ivy Capital Management acquired a new stake in Align Technology during the 3rd quarter worth about $32,000. Private Trust Co. NA grew its holdings 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 acquiring an additional 93 shares during the period. Quarry LP grew its holdings in Align Technology by 74.8% during the 3rd quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock worth $56,000 after acquiring an additional 95 shares during the period. Finally, Versant Capital Management Inc grew its holdings 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 worth $48,000 after acquiring an additional 157 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Performance

NASDAQ:ALGN opened at $173.75 on Friday. The firm has a market cap of $12.79 billion, a price-to-earnings ratio of 30.97, a price-to-earnings-growth 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. The firm has a 50-day moving average price of $208.02 and a two-hundred day moving average price of $221.29.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 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, sell-side analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analysts Set New Price Targets

ALGN has been the topic of a number of research analyst reports. Piper Sandler cut their price objective on shares of Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. Morgan Stanley dropped their price target on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Bank of America raised their price target on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $269.91.

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.