Y Intercept Hong Kong Ltd Has $4.58 Million Position in Align Technology, Inc. $ALGN

Y Intercept Hong Kong Ltd grew its stake in Align Technology, Inc. (NASDAQ:ALGN) by 80.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,541 shares of the medical equipment provider’s stock after purchasing an additional 16,260 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.05% of Align Technology worth $4,576,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ninety One UK Ltd lifted its position in Align Technology by 18.3% during the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock worth $283,898,000 after acquiring an additional 350,883 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Align Technology by 31.0% during the second quarter. Federated Hermes Inc. now owns 926,733 shares of the medical equipment provider’s stock worth $175,458,000 after purchasing an additional 219,219 shares during the period. Disciplined Growth Investors Inc. MN lifted its holdings in Align Technology by 0.9% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 844,987 shares of the medical equipment provider’s stock worth $159,981,000 after purchasing an additional 7,754 shares during the last quarter. Norges Bank bought a new stake in Align Technology in the 2nd quarter valued at $155,297,000. Finally, Navera Investment Management Ltd. grew its holdings in Align Technology by 3.0% in the 2nd quarter. Navera Investment Management Ltd. now owns 787,559 shares of the medical equipment provider’s stock valued at $149,126,000 after buying an additional 23,080 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays began coverage on Align Technology in a report on Monday, December 8th. They set an “equal weight” rating and a $170.00 target price for the company. Mizuho lifted their price objective on shares of Align Technology from $170.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. HSBC raised their target price on shares of Align Technology from $140.00 to $150.00 in a report on Friday, October 31st. Finally, Stifel Nicolaus set a $200.00 price target on Align Technology in a research note on Thursday, October 30th. Six equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $176.82.

Align Technology Price Performance

Shares of ALGN opened at $168.73 on Monday. The firm has a 50 day simple moving average of $157.96 and a two-hundred day simple moving average of $150.08. Align Technology, Inc. has a one year low of $122.00 and a one year high of $234.39. The company has a market cap of $12.11 billion, a P/E ratio of 32.70, a P/E/G ratio of 1.90 and a beta of 1.83.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.23. Align Technology had a return on equity of 13.96% and a net margin of 9.50%.The company had revenue of $995.69 million for the quarter, compared to analyst estimates of $980.75 million. During the same quarter last year, the company posted $2.35 EPS. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

About Align Technology

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.