Skylands Capital LLC Acquires 39,750 Shares of Align Technology, Inc. $ALGN

Skylands Capital LLC raised its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 470.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,200 shares of the medical equipment provider’s stock after purchasing an additional 39,750 shares during the period. Skylands Capital LLC owned 0.07% of Align Technology worth $6,036,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sentry Investment Management LLC boosted its holdings in Align Technology by 73.1% in the third quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 79 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in shares of Align Technology during the third quarter valued at $26,000. Rothschild Investment LLC raised its position in shares of Align Technology by 140.3% in the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 87 shares during the last quarter. True Wealth Design LLC boosted its stake in 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 worth $29,000 after purchasing an additional 153 shares in the last quarter. Finally, Quent Capital LLC purchased a new stake in Align Technology during the 3rd quarter valued at about $30,000. 88.43% of the stock is owned by institutional investors.

Align Technology Stock Performance

Shares of NASDAQ:ALGN opened at $196.27 on Wednesday. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $212.23. The stock has a market capitalization of $14.08 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 2.16 and a beta of 1.84. The stock’s 50-day simple moving average is $165.09 and its two-hundred day simple moving average is $147.92.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.30. The firm had revenue of $1.05 billion for 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%. The business’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.44 EPS. As a group, equities analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALGN has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. Barclays started coverage on shares of Align Technology in a research report on Monday, December 8th. They set an “equal weight” rating and a $170.00 price target for the company. Robert W. Baird set a $218.00 price objective on Align Technology in a research report on Thursday, February 5th. Wall Street Zen upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Finally, Stifel Nicolaus boosted their price target on Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, Align Technology currently has an average rating of “Hold” and an average target price of $195.92.

Align Technology Company 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.