Align Technology, Inc. $ALGN Shares Purchased by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC increased its position in Align Technology, Inc. (NASDAQ:ALGN) by 25.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 141,215 shares of the medical equipment provider’s stock after acquiring an additional 28,850 shares during the period. Clarkston Capital Partners LLC owned approximately 0.20% of Align Technology worth $17,683,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALGN. Sentry Investment Management LLC increased its holdings 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 valued at $25,000 after purchasing an additional 79 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Align Technology during the third quarter worth about $26,000. Rothschild Investment LLC boosted its position 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 buying an additional 87 shares during the last quarter. True Wealth Design LLC increased its holdings 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 buying an additional 153 shares during the period. Finally, Quent Capital LLC acquired a new position in Align Technology in the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Buying and Selling

In other Align Technology news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total value of $1,508,611.39. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.66% of the company’s stock.

Align Technology Stock Down 0.9%

Align Technology stock opened at $174.00 on Monday. The company has a fifty day simple moving average of $174.64 and a 200-day simple moving average of $152.40. The firm has a market capitalization of $12.40 billion, a price-to-earnings ratio of 30.74, a PEG ratio of 1.90 and a beta of 1.79. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $208.30.

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. On average, research analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on ALGN shares. Barclays lifted their price objective on shares of Align Technology from $170.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. Stifel Nicolaus raised their target price on shares of Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Wall Street Zen upgraded shares of Align Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Weiss Ratings raised shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 16th. Finally, Evercore increased their price target on Align Technology from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $198.08.

Align Technology Company 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.