AYAL Capital Advisors Ltd Acquires New Position in Align Technology, Inc. $ALGN

AYAL Capital Advisors Ltd acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 26,000 shares of the medical equipment provider’s stock, valued at approximately $4,923,000. Align Technology comprises about 1.2% of AYAL Capital Advisors Ltd’s portfolio, making the stock its 25th largest position.

A number of other institutional investors have also bought and sold shares of the business. Rothschild Investment LLC grew its position in shares of Align Technology by 140.3% in the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 87 shares in the last quarter. True Wealth Design LLC lifted its position in Align Technology by 7,650.0% during the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 153 shares in the last quarter. Cromwell Holdings LLC boosted its stake in Align Technology by 2,900.0% during the second quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider’s stock worth $34,000 after buying an additional 174 shares during the last quarter. SVB Wealth LLC purchased a new stake in Align Technology in the 1st quarter valued at $36,000. Finally, MAI Capital Management grew its holdings in Align Technology by 84.8% in the 2nd quarter. MAI Capital Management now owns 255 shares of the medical equipment provider’s stock valued at $48,000 after buying an additional 117 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Stock Performance

NASDAQ:ALGN opened at $165.43 on Friday. The stock has a market capitalization of $11.87 billion, a P/E ratio of 32.06, a PEG ratio of 1.99 and a beta of 1.86. The company has a 50 day moving average price of $140.41 and a 200 day moving average price of $155.07. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $238.11.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.23. Align Technology had a return on equity of 13.96% and a net margin of 9.50%.The company had revenue of $995.69 million for the quarter, compared to analysts’ expectations of $980.75 million. During the same period in the prior year, the firm earned $2.35 earnings per share. The firm’s revenue was up 1.8% compared to the same quarter last year. Research analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALGN has been the topic of several analyst reports. Stifel Nicolaus set a $200.00 price target on Align Technology in a report on Thursday, October 30th. Weiss Ratings downgraded shares of Align Technology from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, October 8th. Morgan Stanley boosted their target price on shares of Align Technology from $142.00 to $154.00 and gave the company an “equal weight” rating in a report on Thursday, October 30th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. Finally, Evercore ISI reduced their price target on shares of Align Technology from $220.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Align Technology has an average rating of “Hold” and a consensus target price of $172.18.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.