Align Technology, Inc. $ALGN Shares Acquired by TD Asset Management Inc

TD Asset Management Inc boosted its position in Align Technology, Inc. (NASDAQ:ALGN) by 17.1% in the third quarter, HoldingsChannel.com reports. The firm owned 190,120 shares of the medical equipment provider’s stock after purchasing an additional 27,830 shares during the quarter. TD Asset Management Inc’s holdings in Align Technology were worth $23,807,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Align Technology by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 8,301,611 shares of the medical equipment provider’s stock worth $1,039,528,000 after buying an additional 58,546 shares in the last quarter. Ninety One UK Ltd raised its position in Align Technology by 18.3% in the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock worth $283,898,000 after acquiring an additional 350,883 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Align Technology by 31.0% in the 2nd quarter. Federated Hermes Inc. now owns 926,733 shares of the medical equipment provider’s stock valued at $175,458,000 after acquiring an additional 219,219 shares during the last quarter. Disciplined Growth Investors Inc. MN lifted its holdings in Align Technology by 0.9% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 844,987 shares of the medical equipment provider’s stock valued at $159,981,000 after acquiring an additional 7,754 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Align Technology during the 2nd quarter valued at about $155,297,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Trading Up 0.5%

Shares of ALGN stock opened at $190.10 on Friday. The company has a market capitalization of $13.64 billion, a price-to-earnings ratio of 33.59, a P/E/G ratio of 2.08 and a beta of 1.84. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30. The stock’s fifty day simple moving average is $172.32 and its 200-day simple moving average is $151.06.

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

Insider Buying and Selling

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 transaction, the executive vice president owned 8,237 shares in the company, valued at approximately $1,559,346.47. This represents a 49.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Mizuho increased their target price on shares of Align Technology from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Morgan Stanley raised their price objective on Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Stifel Nicolaus boosted their target price on Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Leerink Partners increased their price target on Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Finally, Wells Fargo & Company boosted their price objective on Align Technology from $181.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $198.08.

Align Technology Profile

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.