Bryce Point Capital LLC Purchases Shares of 4,987 Align Technology, Inc. $ALGN

Bryce Point Capital LLC acquired a new position in Align Technology, Inc. (NASDAQ:ALGN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,987 shares of the medical equipment provider’s stock, valued at approximately $624,000. Align Technology makes up about 0.8% of Bryce Point Capital LLC’s investment portfolio, making the stock its 28th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALGN. Norges Bank purchased a new stake in Align Technology during the second quarter worth $155,297,000. Ninety One UK Ltd raised its position in shares of Align Technology by 18.3% in the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock worth $283,898,000 after acquiring an additional 350,883 shares during the period. Nordea Investment Management AB raised its position in shares of Align Technology by 94.5% in the second quarter. Nordea Investment Management AB now owns 638,341 shares of the medical equipment provider’s stock worth $121,055,000 after acquiring an additional 310,091 shares during the period. Bank of America Corp DE boosted its stake in shares of Align Technology by 60.7% during the 2nd quarter. Bank of America Corp DE now owns 786,637 shares of the medical equipment provider’s stock worth $148,934,000 after acquiring an additional 297,117 shares in the last quarter. Finally, Artisan Partners Limited Partnership acquired a new stake in shares of Align Technology during the 2nd quarter valued at about $55,061,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Up 2.6%

Shares of ALGN opened at $192.50 on Tuesday. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $216.95. The stock has a market cap of $13.81 billion, a PE ratio of 34.01, a price-to-earnings-growth ratio of 2.10 and a beta of 1.84. The firm’s fifty day moving average is $164.18 and its two-hundred day moving average is $147.99.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results 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 the consensus estimate of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $2.44 earnings per share. As a group, research analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on ALGN. UBS Group upped their price target on Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday. Evercore raised their price objective on Align Technology from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, October 30th. HSBC increased their target price on Align Technology from $140.00 to $150.00 in a research report on Friday, October 31st. Finally, Jefferies Financial Group boosted their price target on shares of Align Technology from $155.00 to $185.00 and gave the stock a “hold” rating in a report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $195.92.

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.