Tredje AP fonden Acquires 25,759 Shares of Align Technology, Inc. $ALGN

Tredje AP fonden raised its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 19.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 156,991 shares of the medical equipment provider’s stock after purchasing an additional 25,759 shares during the period. Tredje AP fonden owned 0.22% of Align Technology worth $19,658,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ALGN. Monaco Asset Management SAM purchased a new stake in shares of Align Technology in the 3rd quarter worth approximately $501,000. Stevens Capital Management LP purchased a new stake in shares of Align Technology in the third quarter worth $303,000. Hillsdale Investment Management Inc. increased its holdings in shares of Align Technology by 21.0% during the third quarter. Hillsdale Investment Management Inc. now owns 5,190 shares of the medical equipment provider’s stock valued at $650,000 after acquiring an additional 900 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in shares of Align Technology in the 3rd quarter worth about $12,130,000. Finally, Factory Mutual Insurance Co. boosted its stake in Align Technology by 9.1% in the 3rd quarter. Factory Mutual Insurance Co. now owns 240,293 shares of the medical equipment provider’s stock worth $30,089,000 after purchasing an additional 20,000 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ALGN shares. HSBC raised their price objective on shares of Align Technology from $140.00 to $150.00 in a research note on Friday, October 31st. Jefferies Financial Group upped their price objective on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Weiss Ratings raised Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 16th. Piper Sandler upped their price target on Align Technology from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Finally, Wells Fargo & Company increased their price objective on Align Technology from $181.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, Align Technology presently has a consensus rating of “Hold” and an average target price of $195.58.

Align Technology Trading Up 0.3%

ALGN opened at $190.02 on Friday. The company’s 50 day moving average is $169.74 and its 200 day moving average is $149.29. The company has a market cap 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 released 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. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the firm earned $2.44 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Insider Buying and Selling at Align Technology

In other Align Technology news, EVP John Morici sold 7,969 shares of the company’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 completion of the transaction, the executive vice president directly 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 document filed with the SEC, which is available through this hyperlink. 0.66% of the stock is currently owned by 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.