Generali Investments Towarzystwo Funduszy Inwestycyjnych Invests $131,000 in Align Technology, Inc. (NASDAQ:ALGN)

Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new position in Align Technology, Inc. (NASDAQ:ALGN) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 630 shares of the medical equipment provider’s stock, valued at approximately $131,000.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC grew its stake in shares of Align Technology by 10,700.0% in the 3rd 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 in the last quarter. Neo Ivy Capital Management bought a new position in Align Technology during the third quarter valued at about $32,000. Quarry LP grew its position in 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 period. Versant Capital Management Inc grew its position in 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 period. Finally, Newbridge Financial Services Group Inc. bought a new position in Align Technology during the fourth quarter valued at about $52,000. Institutional investors own 88.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ALGN shares. Jefferies Financial Group reduced their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a research report on Thursday, January 23rd. Bank of America increased their price target on shares of Align Technology from $200.00 to $206.00 and gave the company an “underperform” rating in a research report on Friday, December 13th. Wells Fargo & Company began coverage on shares of Align Technology in a research report on Friday, February 14th. They set an “overweight” rating and a $255.00 price target for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Thursday, February 6th. Finally, Evercore ISI upped their price objective on shares of Align Technology from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Thursday, February 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $269.91.

Align Technology Price Performance

Shares of ALGN opened at $185.77 on Friday. The firm’s 50 day simple moving average is $212.44 and its 200 day simple moving average is $223.57. The company has a market capitalization of $13.87 billion, a P/E ratio of 33.11, a P/E/G ratio of 2.24 and a beta of 1.67. Align Technology, Inc. has a 1-year low of $183.26 and a 1-year high of $335.40.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 5th. The medical equipment provider reported $1.96 earnings per share for the quarter, missing analysts’ consensus estimates of $2.43 by ($0.47). Align Technology had a net margin of 10.54% and a return on equity of 13.84%. On average, equities analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current 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.