Jupiter Asset Management Ltd. Makes New Investment in Align Technology, Inc. $ALGN

Jupiter Asset Management Ltd. purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 96,867 shares of the medical equipment provider’s stock, valued at approximately $12,130,000. Jupiter Asset Management Ltd. owned 0.14% of Align Technology at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALGN. Rothschild Investment LLC grew its position in Align Technology by 140.3% in the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 87 shares during the period. True Wealth Design LLC lifted its stake in shares of Align Technology by 7,650.0% in 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. Sentry Investment Management LLC grew its holdings in shares of Align Technology by 73.1% during the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 79 shares during the period. CYBER HORNET ETFs LLC acquired a new stake in shares of Align Technology during the 2nd quarter worth about $36,000. Finally, MUFG Securities EMEA plc purchased a new stake in Align Technology in the 2nd quarter valued at about $38,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Up 0.3%

Shares of ALGN stock opened at $190.02 on Friday. The firm has a 50 day moving average of $169.74 and a two-hundred day moving average of $149.29. The stock has a market capitalization of $13.63 billion, a PE ratio of 33.57, a P/E/G ratio of 2.08 and a beta of 1.84. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $208.30.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $1.03 billion. During the same period last year, the firm earned $2.44 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. Analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Insider Activity at Align Technology

In other news, EVP John Morici sold 7,969 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $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 SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

ALGN has been the subject of several research analyst reports. Barclays initiated coverage on shares of Align Technology in a research note on Monday, December 8th. They set an “equal weight” rating and a $170.00 target price for the company. Robert W. Baird set a $218.00 price objective on shares of Align Technology in a research report on Thursday, February 5th. Piper Sandler lifted their target price on shares of Align Technology from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Wall Street Zen upgraded Align Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, October 30th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $195.58.

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.