Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 346.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,354 shares of the medical equipment provider’s stock after acquiring an additional 46,831 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of Align Technology worth $18,587,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALGN. Mather Group LLC. bought a new position in Align Technology during the 1st quarter worth about $26,000. Lindbrook Capital LLC raised its position in Align Technology by 47.2% in the 1st quarter. Lindbrook Capital LLC now owns 187 shares of the medical equipment provider’s stock valued at $61,000 after buying an additional 60 shares during the last quarter. Orion Capital Management LLC bought a new stake in Align Technology in the 3rd quarter valued at approximately $61,000. Venturi Wealth Management LLC boosted its position in Align Technology by 97.2% during the 4th quarter. Venturi Wealth Management LLC now owns 280 shares of the medical equipment provider’s stock worth $77,000 after acquiring an additional 138 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in shares of Align Technology in the fourth quarter valued at approximately $86,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Performance

Shares of Align Technology stock opened at $243.60 on Friday. The stock has a market capitalization of $18.34 billion, a PE ratio of 40.13, a price-to-earnings-growth ratio of 4.51 and a beta of 1.66. The stock has a 50 day moving average price of $259.94 and a two-hundred day moving average price of $283.25. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $413.20.

Align Technology (NASDAQ:ALGN – Get Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.08. The firm had revenue of $997.43 million during the quarter, compared to analysts’ expectations of $971.97 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. Research analysts forecast that Align Technology, Inc. will post 7.86 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on ALGN. Evercore ISI cut their price target on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, June 10th. Stifel Nicolaus increased their price objective on Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 18th. UBS Group boosted their target price on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Piper Sandler lowered their price target on Align Technology from $375.00 to $330.00 and set an “overweight” rating on the stock in a research report on Friday, June 21st. Finally, OTR Global restated a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $346.50.

View Our Latest Stock Analysis on Align Technology

About Align Technology

(Free Report)

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.

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