Dana Investment Advisors Inc. Takes Position in Align Technology, Inc. $ALGN

Dana Investment Advisors Inc. purchased a new position in Align Technology, Inc. (NASDAQ:ALGN) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 79,785 shares of the medical equipment provider’s stock, valued at approximately $9,991,000. Dana Investment Advisors Inc. owned about 0.11% of Align Technology at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ALGN. Sentry Investment Management LLC grew its stake 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 valued at $25,000 after purchasing an additional 79 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Align Technology during the 3rd quarter valued at about $26,000. Rothschild Investment LLC grew its stake 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 valued at $28,000 after buying an additional 87 shares in the last quarter. True Wealth Design LLC grew its stake in shares of 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 valued at $29,000 after buying an additional 153 shares in the last quarter. Finally, Quent Capital LLC acquired a new position in Align Technology in the third quarter worth approximately $30,000. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Align Technology

In related news, EVP John Morici sold 7,969 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 8,237 shares in the company, valued at $1,559,346.47. This represents a 49.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

ALGN has been the subject of a number of analyst reports. Leerink Partners lifted their target price on shares of Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. Jefferies Financial Group lifted their price objective on shares of Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Weiss Ratings raised shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. Finally, Robert W. Baird set a $218.00 target price on Align Technology in a report on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $195.58.

Align Technology Trading Down 4.6%

NASDAQ ALGN opened at $181.26 on Tuesday. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $208.30. The company has a fifty day simple moving average of $170.11 and a 200 day simple moving average of $149.74. The company has a market cap of $13.01 billion, a P/E ratio of 32.02, a P/E/G ratio of 2.08 and a beta of 1.84.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, topping 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 firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm posted $2.44 EPS. The business’s quarterly revenue was up 5.3% on a year-over-year basis. Equities research analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

About Align Technology

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.