Focus Partners Advisor Solutions LLC Raises Stake in Align Technology, Inc. $ALGN

Focus Partners Advisor Solutions LLC raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 176.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,864 shares of the medical equipment provider’s stock after buying an additional 4,381 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Align Technology were worth $930,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALGN. Fisher Asset Management LLC lifted its holdings in shares of Align Technology by 12.3% in the third quarter. Fisher Asset Management LLC now owns 59,373 shares of the medical equipment provider’s stock worth $7,435,000 after buying an additional 6,482 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of Align Technology by 0.6% in the third quarter. APG Asset Management N.V. now owns 41,874 shares of the medical equipment provider’s stock valued at $5,243,000 after acquiring an additional 257 shares during the period. Rafferty Asset Management LLC grew its stake in Align Technology by 8.4% during the third quarter. Rafferty Asset Management LLC now owns 9,739 shares of the medical equipment provider’s stock valued at $1,220,000 after acquiring an additional 752 shares in the last quarter. Quantbot Technologies LP bought a new stake in Align Technology during the 3rd quarter worth approximately $14,707,000. Finally, Aster Capital Management DIFC Ltd increased its holdings in Align Technology by 246.4% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 1,687 shares of the medical equipment provider’s stock worth $211,000 after acquiring an additional 1,200 shares during the period. 88.43% of the stock is currently owned by institutional investors.

Insider Activity at Align Technology

In other news, EVP John Morici sold 7,969 shares of the company’s 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 directly owned 8,237 shares of the company’s stock, valued at approximately $1,559,346.47. This represents 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 hyperlink. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

ALGN has been the topic of several recent analyst reports. Mizuho increased their target price on shares of Align Technology from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. UBS Group upped their price target on shares of Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Evercore increased their price objective on Align Technology from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Leerink Partners lifted their price objective on Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Finally, Stifel Nicolaus boosted their target price on Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Align Technology presently has an average rating of “Hold” and a consensus target price of $198.08.

Align Technology Stock Performance

Shares of ALGN stock opened at $174.00 on Friday. The company has a market capitalization of $12.40 billion, a P/E ratio of 30.74, a PEG ratio of 1.92 and a beta of 1.79. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $208.30. The stock has a 50 day moving average price of $174.64 and a two-hundred day moving average price of $152.28.

Align Technology (NASDAQ:ALGN) last issued its earnings results 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. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the business earned $2.44 earnings per share. As a group, equities analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current 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.