Versant Capital Management Inc Purchases 157 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Versant Capital Management Inc lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 212.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 231 shares of the medical equipment provider’s stock after purchasing an additional 157 shares during the period. Versant Capital Management Inc’s holdings in Align Technology were worth $48,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Align Technology by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 82,020 shares of the medical equipment provider’s stock valued at $20,859,000 after purchasing an additional 2,168 shares during the period. Exome Asset Management LLC acquired a new position in Align Technology in the third quarter valued at approximately $4,756,000. Oddo BHF Asset Management Sas bought a new position in shares of Align Technology during the 3rd quarter worth approximately $747,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Align Technology during the 3rd quarter worth approximately $78,000. Finally, Virtue Capital Management LLC bought a new stake in shares of Align Technology in the 3rd quarter valued at $203,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALGN. Bank of America upped their price objective on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a report on Friday, December 13th. Evercore ISI cut their price target on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Morgan Stanley decreased their price objective on Align Technology from $310.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Needham & Company LLC reiterated a “hold” rating on shares of Align Technology in a report on Monday, November 4th. Finally, Piper Sandler decreased their price target on shares of Align Technology from $285.00 to $275.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $268.20.

Align Technology Stock Performance

Shares of Align Technology stock opened at $218.88 on Tuesday. Align Technology, Inc. has a 52-week low of $196.09 and a 52-week high of $335.40. The company has a fifty day moving average of $221.79 and a 200-day moving average of $229.64. The stock has a market capitalization of $16.34 billion, a price-to-earnings ratio of 37.35, a price-to-earnings-growth ratio of 6.20 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating 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 during the quarter, compared to the consensus estimate of $990.05 million. During the same quarter in the previous year, the company posted $1.62 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that Align Technology, Inc. will post 7.45 earnings per share for the current fiscal year.

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.