Geneva Capital Management LLC Has $6.38 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

Geneva Capital Management LLC decreased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 12.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,588 shares of the medical equipment provider’s stock after selling 4,239 shares during the period. Geneva Capital Management LLC’s holdings in Align Technology were worth $6,378,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC raised its position in shares of 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 valued at $27,000 after buying an additional 107 shares during the last quarter. Neo Ivy Capital Management acquired a new position in shares of Align Technology during the third quarter valued at about $32,000. Private Trust Co. NA raised its position in shares of Align Technology by 113.4% during the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after buying an additional 93 shares during the last quarter. Quarry LP raised its position in shares of Align Technology by 74.8% during the third quarter. Quarry LP now owns 222 shares of the medical equipment provider’s stock valued at $56,000 after buying an additional 95 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Align Technology by 212.2% during the fourth quarter. Versant Capital Management Inc now owns 231 shares of the medical equipment provider’s stock valued at $48,000 after buying an additional 157 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Trading Up 2.5 %

Shares of Align Technology stock opened at $174.19 on Thursday. The stock has a market capitalization of $12.82 billion, a price-to-earnings ratio of 31.05, a P/E/G ratio of 2.24 and a beta of 1.69. Align Technology, Inc. has a 1-year low of $167.32 and a 1-year high of $335.40. The firm’s 50-day moving average price is $209.65 and its two-hundred day moving average price is $222.18.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing the consensus estimate of $2.43 by ($0.47). Align Technology had a return on equity of 13.84% and a net margin of 10.54%. As a group, equities research analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

Analyst Ratings Changes

ALGN has been the subject of a number of research analyst reports. Leerink Partners raised shares of Align Technology from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $235.00 to $280.00 in a research report on Monday, January 6th. Mizuho assumed coverage on shares of Align Technology in a research report on Wednesday, December 4th. They set an “outperform” rating and a $295.00 price objective for the company. Bank of America upped their target price on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research note on Friday, December 13th. Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. Finally, Morgan Stanley lowered their target price on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a research note on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $269.91.

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.