Fisher Asset Management LLC Has $7.44 Million Position in Align Technology, Inc. $ALGN

Fisher Asset Management LLC raised its stake in Align Technology, Inc. (NASDAQ:ALGN) by 12.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,373 shares of the medical equipment provider’s stock after buying an additional 6,482 shares during the quarter. Fisher Asset Management LLC owned 0.08% of Align Technology worth $7,435,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Sentry Investment Management LLC increased its stake in shares of 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 during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in Align Technology in the third quarter valued at about $26,000. Rothschild Investment LLC grew its stake in Align Technology by 140.3% in the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 87 shares in the last quarter. True Wealth Design LLC increased its position 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 during the last quarter. Finally, Quent Capital LLC purchased a new stake in shares of Align Technology during the 3rd quarter worth about $30,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

ALGN has been the subject of several recent research reports. Jefferies Financial Group boosted their price target on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Barclays boosted their target price on shares of Align Technology from $170.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 25th. Wall Street Zen upgraded shares of Align Technology from a “hold” rating to a “buy” rating in a research note on Saturday, January 3rd. Piper Sandler lifted their price objective on shares of Align Technology from $200.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. Finally, Robert W. Baird set a $218.00 target price on shares of Align Technology in a research report on Thursday, February 5th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $198.08.

Insider Activity at Align Technology

In related news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total value of $1,508,611.39. Following the completion of the transaction, the executive vice president directly owned 8,237 shares of the company’s stock, valued at $1,559,346.47. This trade represents a 49.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.66% of the company’s stock.

Align Technology Stock Performance

Shares of ALGN opened at $175.60 on Friday. The company has a 50-day simple moving average of $174.33 and a 200-day simple moving average of $152.08. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $208.30. The firm has a market capitalization of $12.52 billion, a P/E ratio of 31.02, a P/E/G ratio of 2.00 and a beta of 1.79.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.30. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $2.44 earnings per share. As a group, equities analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current 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.