Hudson Bay Capital Management LP Takes $38.83 Million Position in Align Technology, Inc. $ALGN

Hudson Bay Capital Management LP acquired a new position in Align Technology, Inc. (NASDAQ:ALGN) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 205,067 shares of the medical equipment provider’s stock, valued at approximately $38,825,000. Hudson Bay Capital Management LP owned 0.28% of Align Technology as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALGN. Public Sector Pension Investment Board raised its holdings in shares of Align Technology by 8.9% during the first quarter. Public Sector Pension Investment Board now owns 9,502 shares of the medical equipment provider’s stock valued at $1,509,000 after buying an additional 779 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Align Technology by 37.4% during the 1st quarter. Russell Investments Group Ltd. now owns 168,463 shares of the medical equipment provider’s stock valued at $26,763,000 after acquiring an additional 45,881 shares in the last quarter. E Fund Management Co. Ltd. boosted its position in Align Technology by 27.5% during the 1st quarter. E Fund Management Co. Ltd. now owns 1,954 shares of the medical equipment provider’s stock worth $310,000 after acquiring an additional 421 shares during the period. Vestmark Advisory Solutions Inc. bought a new position in shares of Align Technology in the first quarter worth $250,000. Finally, Horizon Investments LLC lifted its holdings in Align Technology by 6.2% in the first quarter. Horizon Investments LLC now owns 1,018 shares of the medical equipment provider’s stock worth $162,000 after purchasing an additional 59 shares during the period. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Price Performance

NASDAQ ALGN opened at $165.43 on Friday. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $238.11. The stock’s 50-day moving average is $140.41 and its two-hundred day moving average is $155.07. The firm has a market cap of $11.87 billion, a P/E ratio of 32.06, a price-to-earnings-growth ratio of 1.99 and a beta of 1.86.

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

Wall Street Analyst Weigh In

ALGN has been the topic of a number of recent analyst reports. Barclays initiated coverage on shares of Align Technology in a research report on Monday. They set an “equal weight” rating and a $170.00 price target on the stock. Morgan Stanley upped their target price on Align Technology from $142.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 30th. Evercore ISI lowered their price target on Align Technology from $220.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 25th. Leerink Partners boosted their price objective on Align Technology from $172.00 to $189.00 in a research note on Thursday, October 30th. Finally, UBS Group decreased their target price on Align Technology from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Thursday, October 16th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $172.18.

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.