Ossiam Purchases 145,120 Shares of Align Technology, Inc. $ALGN

Ossiam lifted its position in Align Technology, Inc. (NASDAQ:ALGN) by 769.3% in the third quarter, Holdings Channel.com reports. The firm owned 163,983 shares of the medical equipment provider’s stock after purchasing an additional 145,120 shares during the quarter. Ossiam’s holdings in Align Technology were worth $20,534,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Align Technology by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock valued at $1,624,000 after buying an additional 469 shares in the last quarter. Focus Partners Wealth boosted its stake in Align Technology by 5.2% in the first quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock worth $486,000 after buying an additional 151 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Align Technology during the second quarter valued at approximately $204,000. Los Angeles Capital Management LLC bought a new position in Align Technology during the second quarter valued at approximately $282,000. Finally, ProShare Advisors LLC raised its stake in shares of Align Technology by 9.3% during the second quarter. ProShare Advisors LLC now owns 12,151 shares of the medical equipment provider’s stock worth $2,301,000 after acquiring an additional 1,033 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Down 1.6%

Shares of Align Technology stock opened at $164.23 on Friday. The company’s fifty day simple moving average is $175.96 and its two-hundred day simple moving average is $153.17. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $208.30. The firm has a market cap of $11.71 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 1.82 and a beta of 1.79.

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

Insider Transactions at Align Technology

In other Align Technology 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 owned 8,237 shares of the company’s stock, valued at $1,559,346.47. This represents a 49.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Leerink Partners boosted their price objective on shares of Align Technology from $210.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Evercore lifted 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. Mizuho boosted their price target on shares of Align Technology from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Morgan Stanley upped their price target on shares of Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Finally, Piper Sandler raised their price objective on Align Technology from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $198.08.

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.