Align Technology, Inc. $ALGN Shares Bought by Skylands Capital LLC

Skylands Capital LLC boosted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 28.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,900 shares of the medical equipment provider’s stock after acquiring an additional 4,350 shares during the quarter. Skylands Capital LLC’s holdings in Align Technology were worth $2,892,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. boosted its position in Align Technology by 37.2% in the first quarter. Bessemer Group Inc. now owns 247 shares of the medical equipment provider’s stock worth $43,000 after purchasing an additional 67 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Align Technology by 77.5% during the 1st quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 69 shares during the period. Empirical Finance LLC grew its stake in shares of Align Technology by 2.9% during the 2nd quarter. Empirical Finance LLC now owns 2,570 shares of the medical equipment provider’s stock valued at $433,000 after purchasing an additional 73 shares during the period. First Bank & Trust increased its position in shares of Align Technology by 5.0% during the 2nd quarter. First Bank & Trust now owns 1,599 shares of the medical equipment provider’s stock valued at $270,000 after purchasing an additional 76 shares during the last quarter. Finally, M.E. Allison & CO. Inc. increased its position in shares of Align Technology by 1.9% during the 2nd quarter. M.E. Allison & CO. Inc. now owns 4,235 shares of the medical equipment provider’s stock valued at $714,000 after purchasing an additional 80 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ALGN shares. Raymond James Financial reiterated a “buy” rating on shares of Align Technology in a research note on Monday, October 5th. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Thursday, July 30th. Wall Street Zen lowered shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 1st. Stifel Nicolaus cut their target price on shares of Align Technology from $210.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, October 9th. Finally, Piper Sandler reduced their target price on shares of Align Technology from $235.00 to $205.00 and set an “overweight” rating for the company in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $192.00.

Align Technology Stock Performance

NASDAQ:ALGN opened at $151.37 on Thursday. The stock has a 50-day simple moving average of $152.57 and a two-hundred day simple moving average of $166.74. Align Technology, Inc. has a 52-week low of $130.23 and a 52-week high of $200.43. The firm has a market capitalization of $10.84 billion, a PE ratio of 26.33, a P/E/G ratio of 1.60 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.62 by $0.02. Align Technology had a return on equity of 15.86% and a net margin of 9.99%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the business posted $2.49 earnings per share. The business’s quarterly revenue was up 4.3% on a year-over-year basis. Equities analysts forecast that Align Technology, Inc. will post 9.36 earnings per share for the current fiscal year.

Align Technology Profile

Align Technology, Inc is a global medical device company focused on digital orthodontics and restorative dentistry. Founded in 1997, the company is best known for the Invisalign system, a series of clear, removable aligners designed to gradually move teeth and treat a range of orthodontic conditions.

Align’s products and services also include digital scanning and dental practice solutions. Its iTero intraoral scanners create digital impressions for orthodontic and restorative procedures, while its exocad business develops computer-aided design and computer-aided manufacturing software used by dental laboratories, clinicians and other dental professionals.

The company serves orthodontists, dentists, dental laboratories and patients in numerous markets worldwide.