Pallas Capital Advisors LLC Grows Position in Align Technology, Inc. $ALGN

Pallas Capital Advisors LLC raised its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 108.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,034 shares of the medical equipment provider’s stock after acquiring an additional 4,188 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Align Technology were worth $1,255,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Sentry Investment Management LLC increased its holdings in shares of Align Technology by 73.1% in the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 79 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Align Technology during the second quarter worth about $36,000. Miller Global Investments LLC purchased a new stake in Align Technology during the fourth quarter worth about $31,000. MUFG Securities EMEA plc acquired a new position in Align Technology during the second quarter worth about $38,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in Align Technology during the third quarter worth about $26,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $166.38 on Monday. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $208.30. The company has a market capitalization of $11.86 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 1.81 and a beta of 1.79. The firm’s 50-day moving average is $177.15 and its two-hundred day moving average is $155.99.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, beating 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 business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $2.44 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Barclays upgraded shares of Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 price target for the company in a research report on Tuesday, March 17th. Robert W. Baird set a $218.00 price target on Align Technology in a report on Thursday, February 5th. Stifel Nicolaus raised their price objective on Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Morgan Stanley lifted their price objective on Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Finally, Piper Sandler boosted their target price on Align Technology from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.08.

Insider Buying and Selling

In other Align Technology news, EVP John Morici sold 7,969 shares of the stock in a transaction on 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.66% of the company’s stock.

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.