Empowered Funds LLC Acquires 313 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Empowered Funds LLC increased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 32.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,280 shares of the medical equipment provider’s stock after acquiring an additional 313 shares during the quarter. Empowered Funds LLC’s holdings in Align Technology were worth $267,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. True Wealth Design LLC lifted its holdings in Align Technology by 10,700.0% during the third 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 purchased a new stake in Align Technology in the third quarter worth $32,000. Quarry LP increased its position in Align Technology by 74.8% in the third quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock worth $56,000 after buying an additional 95 shares during the last quarter. Versant Capital Management Inc increased its position in Align Technology by 212.2% in the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock worth $48,000 after buying an additional 157 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Align Technology in the third quarter worth $77,000. 88.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Piper Sandler decreased their target price on Align Technology from $275.00 to $270.00 and set an “overweight” rating for the company in a research report on Thursday, February 6th. Mizuho assumed coverage on Align Technology in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 target price for the company. Wells Fargo & Company assumed coverage on Align Technology in a research report on Friday, February 14th. They issued an “overweight” rating and a $255.00 target price for the company. Leerink Partners raised Align Technology from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $235.00 to $280.00 in a research report on Monday, January 6th. Finally, Jefferies Financial Group reduced their price target on Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. One investment 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $269.91.

Align Technology Stock Performance

NASDAQ:ALGN opened at $190.43 on Friday. The firm has a market capitalization of $14.22 billion, a price-to-earnings ratio of 33.94, a P/E/G ratio of 2.38 and a beta of 1.67. Align Technology, Inc. has a 52-week low of $186.82 and a 52-week high of $335.40. The stock has a fifty day moving average of $215.05 and a 200 day moving average of $224.17.

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

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.