Dynamic Technology Lab Private Ltd Purchases New Position in Align Technology, Inc. $ALGN

Dynamic Technology Lab Private Ltd acquired a new position in Align Technology, Inc. (NASDAQ:ALGN) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 4,720 shares of the medical equipment provider’s stock, valued at approximately $591,000.

A number of other hedge funds have also made changes to their positions in ALGN. Sentry Investment Management LLC grew its stake in 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 buying an additional 79 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Align Technology in the third quarter valued at $26,000. Rothschild Investment LLC lifted its holdings in shares of Align Technology by 140.3% during the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 87 shares during the period. Quent Capital LLC acquired a new position in shares of Align Technology in the 3rd quarter worth approximately $30,000. Finally, TD Private Client Wealth LLC grew its stake in Align Technology by 135.6% during the third quarter. TD Private Client Wealth LLC now owns 238 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 137 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Trading Down 3.2%

ALGN opened at $169.43 on Wednesday. The stock has a market capitalization of $12.08 billion, a P/E ratio of 29.93, a P/E/G ratio of 1.91 and a beta of 1.79. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $208.30. The firm’s fifty day simple moving average is $175.21 and its 200 day simple moving average is $152.79.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, beating 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 return on equity of 15.16% and a net margin of 10.17%.The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the business posted $2.44 EPS. On average, equities research analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Insider Buying and Selling at Align Technology

In related news, EVP John Morici sold 7,969 shares of the business’s stock in a transaction on 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 transaction, the executive vice president directly 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALGN. Robert W. Baird set a $218.00 target price on shares of Align Technology in a research report on Thursday, February 5th. Leerink Partners raised their price objective on Align Technology from $210.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Piper Sandler lifted their target price on Align Technology from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. UBS Group increased their price target on Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Finally, Wall Street Zen upgraded Align Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $198.08.

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.