Align Technology, Inc. $ALGN Stake Boosted by Vanguard Group Inc.

Vanguard Group Inc. lifted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 0.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,301,611 shares of the medical equipment provider’s stock after acquiring an additional 58,546 shares during the quarter. Vanguard Group Inc. owned approximately 0.11% of Align Technology worth $1,039,528,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ALGN. Sentry Investment Management LLC grew its stake in Align Technology by 73.1% in the third quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Align Technology during the 3rd quarter valued at about $26,000. Rothschild Investment LLC grew its stake in shares of Align Technology by 140.3% in the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 87 shares in the last quarter. True Wealth Design LLC increased its holdings in Align Technology by 7,650.0% in the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 153 shares during the last quarter. Finally, Quent Capital LLC bought a new position in Align Technology during the third quarter valued at approximately $30,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on ALGN shares. Weiss Ratings raised shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. Jefferies Financial Group upped their price objective on shares of Align Technology from $155.00 to $185.00 and gave the stock a “hold” rating in a report on Thursday, February 5th. Evercore increased their target price on shares of Align Technology from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Morgan Stanley boosted their price target on Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Finally, Wall Street Zen upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $195.58.

Insider Activity at Align Technology

In other news, EVP John Morici sold 7,969 shares of the company’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the completion of the transaction, the executive vice president directly owned 8,237 shares in the company, valued at $1,559,346.47. The trade was a 49.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by company insiders.

Align Technology Price Performance

Align Technology stock opened at $190.02 on Friday. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $208.30. The firm has a fifty day moving average price of $169.74 and a two-hundred day moving average price of $149.36. The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 33.57, a P/E/G ratio of 2.08 and a beta of 1.84.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, topping analysts’ consensus estimates of $2.99 by $0.30. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company posted $2.44 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, sell-side analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Align Technology Profile

Align Technology, Inc (NASDAQ: ALGN) pioneered the use of digital technology in orthodontics through the development of the Invisalign system, a series of clear, removable aligners that provide an alternative to traditional metal braces. Since its founding in 1997 by Zia Chishti and Kelsey Wirth, the Tempe, Arizona–based company has expanded its focus to include intraoral scanners, CAD/CAM software for dental laboratories and comprehensive digital dentistry solutions.

The company’s signature Invisalign system leverages 3D imaging and computer-aided design (CAD) to create customized aligners that gradually reposition teeth, improving patient comfort and treatment predictability.