Andrew Hill Investment Advisors Inc. Purchases New Holdings in Align Technology, Inc. (NASDAQ:ALGN)

Andrew Hill Investment Advisors Inc. acquired a new position in Align Technology, Inc. (NASDAQ:ALGN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,618 shares of the medical equipment provider’s stock, valued at approximately $717,000.

Other institutional investors have also recently bought and sold shares of the company. Xponance Inc. increased its stake in shares of Align Technology by 10.5% during the 4th quarter. Xponance Inc. now owns 23,141 shares of the medical equipment provider’s stock worth $6,341,000 after purchasing an additional 2,198 shares during the last quarter. Ninety One North America Inc. increased its position in Align Technology by 2.9% in the fourth quarter. Ninety One North America Inc. now owns 14,322 shares of the medical equipment provider’s stock worth $3,924,000 after buying an additional 403 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Align Technology by 1,783.4% in the fourth quarter. Federated Hermes Inc. now owns 107,411 shares of the medical equipment provider’s stock valued at $29,431,000 after buying an additional 101,708 shares during the period. Slow Capital Inc. lifted its position in shares of Align Technology by 2.8% during the 4th quarter. Slow Capital Inc. now owns 9,543 shares of the medical equipment provider’s stock valued at $2,615,000 after buying an additional 262 shares during the last quarter. Finally, GraniteShares Advisors LLC lifted its holdings in Align Technology by 14.7% during the fourth quarter. GraniteShares Advisors LLC now owns 2,154 shares of the medical equipment provider’s stock valued at $590,000 after purchasing an additional 276 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

ALGN stock traded down $1.92 during trading on Friday, reaching $299.42. The company had a trading volume of 135,383 shares, compared to its average volume of 740,771. The company has a market cap of $22.53 billion, a P/E ratio of 51.58, a PEG ratio of 5.37 and a beta of 1.65. The business has a 50 day moving average of $312.73 and a 200 day moving average of $270.18. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $413.20.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.13. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. The firm had revenue of $956.73 million for the quarter, compared to analysts’ expectations of $928.57 million. Research analysts expect that Align Technology, Inc. will post 7.69 earnings per share for the current year.

Insider Buying and Selling at Align Technology

In related news, Director Joseph Lacob sold 10,000 shares of the firm’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 value of $3,130,100.00. Following the transaction, the director now owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Emory Wright sold 2,524 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the completion of the transaction, the director now directly owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. The disclosure for this sale can be found here. Insiders sold a total of 27,524 shares of company stock worth $8,403,924 in the last three months. 0.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ALGN has been the subject of several analyst reports. Stifel Nicolaus raised their target price on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group raised their price target on shares of Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a report on Friday, February 2nd. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. UBS Group boosted their target price on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, SVB Leerink started coverage on shares of Align Technology in a research note on Monday, February 26th. They issued a “market perform” rating and a $310.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $344.45.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.