Caprock Group LLC Takes $236,000 Position in Align Technology, Inc. (NASDAQ:ALGN)

Caprock Group LLC acquired a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,131 shares of the medical equipment provider’s stock, valued at approximately $236,000.

Several other large investors have also modified their holdings of the stock. Empirical Finance LLC lifted its holdings in shares of Align Technology by 2.1% in the 3rd quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock valued at $632,000 after buying an additional 50 shares during the period. Lake Street Advisors Group LLC lifted its stake in Align Technology by 5.6% in the 3rd quarter. Lake Street Advisors Group LLC now owns 1,042 shares of the medical equipment provider’s stock valued at $265,000 after buying an additional 55 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of Align Technology by 6.6% during the third quarter. Crestwood Advisors Group LLC now owns 1,000 shares of the medical equipment provider’s stock valued at $254,000 after acquiring an additional 62 shares during the last quarter. Mather Group LLC. boosted its stake in shares of Align Technology by 51.6% during the 3rd quarter. Mather Group LLC. now owns 185 shares of the medical equipment provider’s stock worth $47,000 after purchasing an additional 63 shares during the last quarter. Finally, Beech Hill Advisors Inc. boosted its position in Align Technology by 0.6% during the fourth quarter. Beech Hill Advisors Inc. now owns 11,632 shares of the medical equipment provider’s stock worth $2,425,000 after acquiring an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Up 0.9 %

ALGN opened at $218.38 on Friday. The firm’s 50 day moving average is $221.92 and its 200-day moving average is $226.15. Align Technology, Inc. has a 52-week low of $196.09 and a 52-week high of $335.40. The firm has a market capitalization of $16.30 billion, a P/E ratio of 37.27, a P/E/G ratio of 4.80 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results 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 return on equity of 13.99% and a net margin of 11.15%. Equities analysts expect that Align Technology, Inc. will post 7.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Leerink Partners upgraded Align Technology from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $235.00 to $280.00 in a report on Monday, January 6th. Leerink Partnrs raised Align Technology from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a research note on Thursday. Piper Sandler reduced their price objective on Align Technology from $275.00 to $270.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Robert W. Baird dropped their target price on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $271.40.

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.