Knuff & Co LLC Makes New $460,000 Investment in Align Technology, Inc. (NASDAQ:ALGN)

Knuff & Co LLC purchased a new position in Align Technology, Inc. (NASDAQ:ALGN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,678 shares of the medical equipment provider’s stock, valued at approximately $460,000.

Other large investors have also recently made changes to their positions in the company. Deepwater Asset Management LLC raised its position in shares of Align Technology by 46.8% in the 4th quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock worth $13,421,000 after acquiring an additional 15,608 shares in the last quarter. London & Capital Asset Management Ltd raised its position in shares of Align Technology by 7.1% in the 4th quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider’s stock worth $15,899,000 after acquiring an additional 3,843 shares in the last quarter. Morgan Stanley raised its position in shares of Align Technology by 9.8% in the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock worth $310,866,000 after acquiring an additional 90,581 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in shares of Align Technology by 20.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 33,344 shares of the medical equipment provider’s stock worth $9,136,000 after acquiring an additional 5,759 shares in the last quarter. Finally, Factory Mutual Insurance Co. raised its position in shares of Align Technology by 26.3% in the 4th quarter. Factory Mutual Insurance Co. now owns 143,293 shares of the medical equipment provider’s stock worth $39,262,000 after acquiring an additional 29,800 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ALGN has been the subject of several recent research reports. Robert W. Baird boosted their price target on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 25th. UBS Group upped their target price on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. Stifel Nicolaus upped their target price on Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Piper Sandler reaffirmed an “overweight” rating and set a $375.00 target price (up from $355.00) on shares of Align Technology in a research report on Thursday, April 25th. Finally, The Goldman Sachs Group upped their target price on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $353.00.

Align Technology Stock Up 0.5 %

Shares of ALGN traded up $1.33 during mid-day trading on Friday, reaching $287.87. The company had a trading volume of 353,639 shares, compared to its average volume of 699,892. Align Technology, Inc. has a 52-week low of $176.34 and a 52-week high of $413.20. The stock has a market capitalization of $21.66 billion, a P/E ratio of 47.43, a PEG ratio of 5.29 and a beta of 1.66. The stock has a 50 day moving average of $311.10 and a two-hundred day moving average of $271.50.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. The firm had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. On average, sell-side analysts expect that Align Technology, Inc. will post 7.92 earnings per share for the current year.

Insider Transactions at Align Technology

In other news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the sale, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the transaction, the director now owns 131,994 shares in the company, valued at $40,023,220.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Emory Wright sold 2,524 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders have sold 27,524 shares of company stock worth $8,403,924 over the last quarter. 0.62% of the stock is currently owned by 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.