NEOS Investment Management LLC Raises Holdings in Align Technology, Inc. $ALGN

NEOS Investment Management LLC lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 49.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,889 shares of the medical equipment provider’s stock after buying an additional 3,581 shares during the quarter. NEOS Investment Management LLC’s holdings in Align Technology were worth $1,364,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in ALGN. Atria Investments Inc grew its holdings in Align Technology by 4.9% during the 2nd quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider’s stock worth $298,000 after acquiring an additional 74 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Align Technology by 0.4% in the 3rd quarter. Arizona State Retirement System now owns 20,387 shares of the medical equipment provider’s stock worth $2,553,000 after purchasing an additional 79 shares during the period. Sentry Investment Management LLC boosted its stake in shares of Align Technology by 73.1% during 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 in the last quarter. Rothschild Investment LLC increased its holdings in Align Technology by 140.3% during 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 period. Finally, Royal London Asset Management Ltd. lifted its holdings in Align Technology by 0.3% during the second quarter. Royal London Asset Management Ltd. now owns 31,629 shares of the medical equipment provider’s stock worth $5,988,000 after buying an additional 93 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ALGN shares. Wells Fargo & Company lifted their price target on Align Technology from $181.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. HSBC lifted their target price on Align Technology from $140.00 to $150.00 in a research note on Friday, October 31st. Jefferies Financial Group increased their price target on shares of Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Mizuho lifted their price objective on shares of Align Technology from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Finally, UBS Group boosted their price objective on shares of Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, Align Technology has a consensus rating of “Hold” and an average price target of $195.58.

Align Technology Trading Up 0.3%

Shares of Align Technology stock opened at $190.02 on Friday. The firm’s 50 day simple moving average is $169.74 and its two-hundred day simple moving average is $149.29. The firm has a market capitalization of $13.63 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 2.08 and a beta of 1.84. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $208.30.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $0.30. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.44 earnings per share. On average, sell-side analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Insider Activity at Align Technology

In other news, EVP John Morici sold 7,969 shares of the stock in a transaction 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 sale, the executive vice president owned 8,237 shares in the company, valued at $1,559,346.47. This represents a 49.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is owned by company insiders.

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.