Align Technology, Inc. $ALGN Stake Trimmed by WINTON GROUP Ltd

WINTON GROUP Ltd lessened its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 78.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,986 shares of the medical equipment provider’s stock after selling 25,561 shares during the quarter. WINTON GROUP Ltd’s holdings in Align Technology were worth $875,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Align Technology by 0.7% during the third quarter. Vanguard Group Inc. now owns 8,301,611 shares of the medical equipment provider’s stock valued at $1,039,528,000 after acquiring an additional 58,546 shares during the period. Ninety One UK Ltd boosted its stake in Align Technology by 18.3% in the 3rd quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock worth $283,898,000 after purchasing an additional 350,883 shares during the period. Federated Hermes Inc. grew its position in Align Technology by 31.0% during the 2nd quarter. Federated Hermes Inc. now owns 926,733 shares of the medical equipment provider’s stock worth $175,458,000 after purchasing an additional 219,219 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its position in Align Technology by 0.9% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 844,987 shares of the medical equipment provider’s stock worth $159,981,000 after purchasing an additional 7,754 shares in the last quarter. Finally, Norges Bank acquired a new stake in Align Technology during the 2nd quarter valued at $155,297,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Align Technology

In other news, EVP John Morici sold 7,969 shares of the company’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 sale, the executive vice president owned 8,237 shares in the company, valued at approximately $1,559,346.47. This represents a 49.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is owned by corporate insiders.

Align Technology Stock Performance

Shares of Align Technology stock traded down $3.90 during midday trading on Friday, reaching $163.02. 218,038 shares of the company’s stock traded hands, compared to its average volume of 1,201,757. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $208.30. The company’s 50 day simple moving average is $175.80 and its 200 day simple moving average is $153.04. The company has a market cap of $11.62 billion, a price-to-earnings ratio of 28.79, a price-to-earnings-growth ratio of 1.90 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.99 by $0.30. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. Align Technology’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.44 earnings per share. As a group, equities research analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wall Street Zen raised Align Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 7th. UBS Group upped their price target on Align Technology from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Leerink Partners raised their price objective on Align Technology from $210.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Robert W. Baird set a $218.00 target price on Align Technology in a research note on Thursday, February 5th. Finally, Barclays upped their target price on Align Technology from $170.00 to $200.00 and gave the company an “equal weight” rating in a report on Wednesday, February 25th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $198.08.

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.