Aberdeen Group plc Raises Stake in Align Technology, Inc. $ALGN

Aberdeen Group plc boosted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 55.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,449 shares of the medical equipment provider’s stock after acquiring an additional 19,501 shares during the period. Aberdeen Group plc owned about 0.08% of Align Technology worth $6,818,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of 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 acquiring an additional 79 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new position in Align Technology in the 3rd quarter valued at about $26,000. Rothschild Investment LLC increased its position in Align Technology by 140.3% in the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 87 shares during the period. True Wealth Design LLC raised its stake in Align Technology by 7,650.0% during the 2nd quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 153 shares during the last quarter. Finally, Quent Capital LLC acquired a new stake in Align Technology during the 3rd quarter worth approximately $30,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Robert W. Baird set a $218.00 target price on Align Technology in a report on Thursday, February 5th. Morgan Stanley boosted their price objective on shares of Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Jefferies Financial Group raised their target price on shares of Align Technology from $155.00 to $185.00 and gave the stock a “hold” rating in a research note on Thursday, February 5th. Piper Sandler lifted their target price on shares of Align Technology from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Finally, Wall Street Zen raised shares of Align Technology from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $195.58.

Insiders Place Their Bets

In other Align Technology news, EVP John Morici sold 7,969 shares of Align Technology stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the completion of the transaction, the executive vice president owned 8,237 shares in the company, valued at approximately $1,559,346.47. The trade was a 49.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.66% of the company’s stock.

Align Technology Price Performance

ALGN opened at $190.02 on Friday. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30. The stock has a market cap of $13.63 billion, a P/E ratio of 33.57, a P/E/G ratio of 2.08 and a beta of 1.84. The stock’s 50 day simple moving average is $169.74 and its 200 day simple moving average is $149.29.

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 the consensus estimate of $2.99 by $0.30. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the firm posted $2.44 earnings per share. Align Technology’s revenue was up 5.3% on a year-over-year basis. Research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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.