117,447 Shares in Align Technology, Inc. $ALGN Acquired by Quantbot Technologies LP

Quantbot Technologies LP purchased a new position in Align Technology, Inc. (NASDAQ:ALGN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 117,447 shares of the medical equipment provider’s stock, valued at approximately $14,707,000. Align Technology accounts for approximately 0.4% of Quantbot Technologies LP’s investment portfolio, making the stock its 26th biggest holding. Quantbot Technologies LP owned approximately 0.16% of Align Technology as of its most recent SEC filing.

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

Analysts Set New Price Targets

A number of research firms recently commented on ALGN. UBS Group boosted their target price on Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Robert W. Baird set a $218.00 price objective on Align Technology in a report on Thursday, February 5th. Stifel Nicolaus raised their target price on shares of Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Leerink Partners boosted their price target on shares of Align Technology from $210.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Finally, Mizuho increased their price objective on shares of Align Technology from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $198.08.

Insider Buying and Selling

In related news, EVP John Morici sold 7,969 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the transaction, the executive vice president directly owned 8,237 shares in the company, valued at approximately $1,559,346.47. This represents a 49.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

Align Technology Stock Performance

NASDAQ:ALGN opened at $190.10 on Friday. The firm has a market capitalization of $13.64 billion, a PE ratio of 33.59, a PEG ratio of 2.07 and a beta of 1.84. The stock’s fifty day moving average is $172.32 and its 200 day moving average is $150.98. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $208.30.

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 the consensus estimate of $2.99 by $0.30. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the firm earned $2.44 earnings per share. Align Technology’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

Align Technology Company 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.