Capital Group Investment Management PTE. LTD. Grows Stock Holdings in Align Technology, Inc. $ALGN

Capital Group Investment Management PTE. LTD. lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 91.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,909 shares of the medical equipment provider’s stock after purchasing an additional 4,731 shares during the period. Capital Group Investment Management PTE. LTD.’s holdings in Align Technology were worth $1,241,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Rothschild Investment LLC increased its holdings in Align Technology by 140.3% during the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 87 shares during the period. Sentry Investment Management LLC raised its position in Align Technology by 73.1% during the 3rd 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 during the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Align Technology in the 2nd quarter worth approximately $36,000. MUFG Securities EMEA plc purchased a new stake in Align Technology in the 2nd quarter worth approximately $38,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of Align Technology in the 3rd quarter worth approximately $26,000. 88.43% of the stock is owned by institutional investors.

Align Technology Trading Up 0.6%

Shares of ALGN stock opened at $175.09 on Tuesday. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $208.30. The stock has a market cap of $12.48 billion, a PE ratio of 30.93, a price-to-earnings-growth ratio of 1.90 and a beta of 1.79. The company’s fifty day moving average price is $174.98 and its 200-day moving average price is $152.65.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) 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 company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the business earned $2.44 EPS. Align Technology’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Align Technology news, EVP John Morici sold 7,969 shares of the firm’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 transaction of $1,508,611.39. Following the completion of the transaction, the executive vice president owned 8,237 shares of the company’s stock, valued at approximately $1,559,346.47. This trade represents a 49.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

ALGN has been the topic of several research analyst reports. Evercore boosted their target price on Align Technology from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Stifel Nicolaus raised their price target on Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Wall Street Zen upgraded shares of Align Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday. UBS Group boosted their price objective on shares of Align Technology from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Finally, Piper Sandler raised their target price on shares of Align Technology from $200.00 to $220.00 and gave the stock an “overweight” rating in a research 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.com, the company has a consensus rating of “Hold” and a consensus price target of $198.08.

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.