Wellington Management Group LLP Has $497.26 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

Wellington Management Group LLP lowered its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 9.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,384,816 shares of the medical equipment provider’s stock after selling 249,784 shares during the quarter. Wellington Management Group LLP’s holdings in Align Technology were worth $497,258,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its holdings in shares of 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 purchasing an additional 107 shares in the last quarter. Picton Mahoney Asset Management grew its stake in Align Technology by 69.9% during the fourth 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 in the last quarter. Neo Ivy Capital Management bought a new position in Align Technology in the 3rd quarter valued at about $32,000. Private Trust Co. NA raised its position in shares of 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 buying an additional 93 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of 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. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Down 0.2 %

Shares of Align Technology stock opened at $158.86 on Tuesday. The stock has a market cap of $11.69 billion, a price-to-earnings ratio of 28.32, a P/E/G ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a twelve month low of $153.77 and a twelve month high of $331.64. The company’s fifty day moving average is $192.42 and its 200 day moving average is $213.98.

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

Analyst Ratings Changes

ALGN has been the subject of several research analyst reports. Bank of America boosted their price objective 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. Evercore ISI upped their price objective on Align Technology from $240.00 to $260.00 and gave the stock an “outperform” rating in a research 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. Morgan Stanley reduced 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 note on Thursday, February 6th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Align Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.64.

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.