Exchange Traded Concepts LLC increased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN – Free Report) by 37.9% during the 4th quarter, HoldingsChannel reported. The institutional investor now owns 4,000 shares of the medical equipment provider's stock after purchasing an additional 1,100 shares during the period. Exchange Traded Concepts LLC's Align Technology stock was valued at $1,096,000 at the end of the most recent quarter.
Other hedge funds and institutional investors have also recently modified their holdings of the company's stock. Raymond James Trust NA boosted its position in Align Technology by 39.4% in the 1st quarter. Raymond James Trust NA now owns 934 shares of the medical device provider's stock valued at $407,000 after acquiring an additional 264 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Align Technology by 11.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 180,978 shares of the medical device provider's stock valued at $78,911,000 after acquiring an additional 18,153 shares in the last quarter. Prudential PLC bought a new stake in Align Technology in the 1st quarter valued at $955,000. Cetera Investment Advisers grew its position in Align Technologies by 4.9% in the 1st quarter. Cetera Investment Advisers now owns 1,713 shares of the medical device provider's stock valued at $747,000 after acquiring an additional 80 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in Align Technology by 17.1% in the 1st quarter. Sequoia Financial Advisors LLC now owns 526 shares of the medical device provider's stock valued at $229,000 after acquiring an additional 77 shares in the last quarter. 87.07% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Share Their Opinions
A lot of research companies have been paying attention to ALGN lately. SVB Leerink began coverage on Align Technology in a research report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target for the company. UBS Group increased their target price on Align Technology from $200.00 to $260.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Goldman Sachs Group increased their target price on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. Piper Sandler upped their target price on Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Leerink Partners reaffirmed a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. One investment analyst has rated the stock as a “sell,” four have rated it a “hold,” and six have rated it a “buy.” The stock currently has an average rating of “Hold” and a consensus price target of $338.09, according to MarketBeat data.
Check out the latest report on ALGN.
Align Technology stock fell 0.8%
Shares of Align Technology stock opened at $314.35 on Monday. Align Technology stock hit a 12-month low of $176.34 and a 12-month high of $413.20. His 50 day moving average price for this company is $290.55 and his 200 day moving average price is $271.24. The company has a market capitalization of $23.61 billion, a P/E ratio of 54.01x, a P/E ratio of 5.77x, and a beta of 1.65x.
Align Technology (NASDAQ:ALGN – Get a Free Report) last released its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a return on equity of 13.88% and a net profit margin of 11.52%. The company had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. On average, sell-side analysts expect Align Technology to post 7.65 EPS for the current fiscal year.
Insider Trading at Align Technology
In related news, Vice President Emory Wright sold 2,524 shares of the company's stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. As a result of the transaction, the executive vice president now directly owns 709 shares of the company's stock, valued at $203,802.05. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which is available through this hyperlink. In other Align Technology news, Vice President Emory Wright sold 2,524 shares of the company's stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the sale, the executive vice president now owns 709 shares of the company's stock, valued at $203,802.05. The sale was disclosed in a filing with the SEC, which can be accessed on the SEC's website. Also, Director Joseph Lacob sold 10,000 shares of the company's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total sale of $3,130,100.00. Following the completion of the sale, the director will now directly own 146,994 shares of the company's stock, valued at approximately $46,010,591.94. Disclosures regarding this sale can be found here. Insiders sold a total of 27,524 shares of company stock valued at $8,403,924 over the past 90 days. Insiders own 0.64% of the company's shares.
Adjusting the technical profile
(Free report)
Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioners in the United States, Switzerland, and abroad. The company's clear aligner division offers a comprehensive range of products, including the Invisalign Comprehensive Package, which addresses the orthodontic needs of young patients, including mandibular advancement, compliance metrics, and tooth eruption compensation. The Invisalign First Phase I and Invisalign First Comprehensive Phase 2 packages are for younger patients, typically between the ages of 6 and 10, who have a mix of primary, primary, and permanent teeth.
References
Curious if other hedge funds own ALGN? Visit HoldingsChannel.com to get the latest 13F filings and insider transactions for Align Technology, Inc. (NASDAQ:ALGN – Free Report).
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