Xponance Inc. Increases Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

Xponance Inc. boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 10.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 23,141 shares of the medical equipment provider’s stock after acquiring an additional 2,198 shares during the quarter. Xponance Inc.’s holdings in Align Technology were worth $6,341,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Ninety One North America Inc. boosted its position in Align Technology by 2.9% during the fourth quarter. Ninety One North America Inc. now owns 14,322 shares of the medical equipment provider’s stock valued at $3,924,000 after purchasing an additional 403 shares in the last quarter. Federated Hermes Inc. increased its position in shares of Align Technology by 1,783.4% during the fourth quarter. Federated Hermes Inc. now owns 107,411 shares of the medical equipment provider’s stock worth $29,431,000 after purchasing an additional 101,708 shares in the last quarter. Slow Capital Inc. boosted its position in shares of Align Technology by 2.8% in the 4th quarter. Slow Capital Inc. now owns 9,543 shares of the medical equipment provider’s stock worth $2,615,000 after purchasing an additional 262 shares in the last quarter. GraniteShares Advisors LLC raised its stake in Align Technology by 14.7% in the fourth quarter. GraniteShares Advisors LLC now owns 2,154 shares of the medical equipment provider’s stock valued at $590,000 after buying an additional 276 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Align Technology by 93.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,693 shares of the medical equipment provider’s stock worth $7,040,000 after acquiring an additional 12,442 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Trading Down 0.8 %

Shares of ALGN stock opened at $298.98 on Friday. The company has a market capitalization of $22.50 billion, a P/E ratio of 51.37, a P/E/G ratio of 5.37 and a beta of 1.65. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20. The business’s 50 day moving average is $312.79 and its two-hundred day moving average is $270.18.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.13. The firm had revenue of $956.73 million for the quarter, compared to analysts’ expectations of $928.57 million. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. On average, research analysts predict that Align Technology, Inc. will post 7.69 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALGN has been the subject of several research analyst reports. The Goldman Sachs Group increased their price objective on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. SVB Leerink initiated coverage on Align Technology in a research report on Monday, February 26th. They issued a “market perform” rating and a $310.00 target price on the stock. Stifel Nicolaus raised their target price on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. Finally, UBS Group lifted their target price on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $344.45.

Insider Activity at Align Technology

In other Align Technology news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the sale, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the transaction, the director now directly owns 131,994 shares of the company’s stock, valued at approximately $40,023,220.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the sale, the executive vice president now owns 709 shares of the company’s stock, valued at $203,802.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,524 shares of company stock valued at $8,403,924. 0.64% of the stock is owned by corporate insiders.

Align Technology Company Profile

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.