Align Technology, Inc. $ALGN Stock Holdings Boosted by Gabelli Funds LLC

Gabelli Funds LLC boosted its position in Align Technology, Inc. (NASDAQ:ALGN) by 357.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 6,400 shares of the medical equipment provider’s stock after buying an additional 5,000 shares during the quarter. Gabelli Funds LLC’s holdings in Align Technology were worth $801,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sentry Investment Management LLC grew its position in Align Technology by 73.1% in 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 last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Align Technology during the third quarter valued at approximately $26,000. Rothschild Investment LLC boosted its position in shares of Align Technology by 140.3% during the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 87 shares during the period. Quent Capital LLC bought a new position in Align Technology in the 3rd quarter worth approximately $30,000. Finally, TD Private Client Wealth LLC grew its holdings in Align Technology by 135.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 238 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 137 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALGN has been the topic of several recent analyst reports. Barclays lifted their target price on Align Technology from $170.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. Robert W. Baird set a $218.00 price target on Align Technology in a report on Thursday, February 5th. Piper Sandler upped their price objective on shares of Align Technology from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Wall Street Zen upgraded shares of Align Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 7th. Finally, 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 research note on Thursday, February 5th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $198.08.

Insider Activity

In related news, EVP John Morici sold 7,969 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total value of $1,508,611.39. Following the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is owned by corporate insiders.

Align Technology Stock Up 3.2%

Shares of ALGN stock opened at $174.81 on Thursday. The stock has a 50-day simple moving average of $175.58 and a 200 day simple moving average of $152.94. The stock has a market capitalization of $12.46 billion, a P/E ratio of 30.89, a P/E/G ratio of 1.85 and a beta of 1.79. 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 issued its quarterly earnings results 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 firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the business earned $2.44 earnings per share. Align Technology’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts anticipate 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.