SG Americas Securities LLC Increases Stock Position in Align Technology, Inc. $ALGN

SG Americas Securities LLC raised its stake in Align Technology, Inc. (NASDAQ:ALGN) by 183.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 138,489 shares of the medical equipment provider’s stock after purchasing an additional 89,628 shares during the period. SG Americas Securities LLC’s holdings in Align Technology were worth $21,625,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Sentry Investment Management LLC boosted its position in shares of Align Technology by 73.1% in 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 period. Steigerwald Gordon & Koch Inc. purchased a new position in Align Technology during the 3rd quarter worth approximately $26,000. Quent Capital LLC acquired a new position in Align Technology during the third quarter worth approximately $30,000. TD Private Client Wealth LLC increased its position in Align Technology by 135.6% during the third quarter. TD Private Client Wealth LLC now owns 238 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 137 shares during the period. Finally, Miller Global Investments LLC purchased a new stake in Align Technology in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Insider Transactions at Align Technology

In other Align Technology news, EVP John Morici sold 7,969 shares of the business’s 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 transaction, the executive vice president directly owned 8,237 shares of the company’s stock, valued at approximately $1,559,346.47. The trade was a 49.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ALGN. Stifel Nicolaus increased their price objective on Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 5th. UBS Group upped their price target 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. Morgan Stanley increased their price target on shares of Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Leerink Partners raised their price objective on shares of Align Technology from $210.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Finally, Weiss Ratings upgraded shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 16th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Align Technology currently has an average rating of “Moderate Buy” and a consensus price target of $198.08.

Align Technology Trading Down 6.2%

Align Technology stock opened at $166.38 on Friday. The stock has a 50 day moving average of $177.15 and a two-hundred day moving average of $155.69. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $208.30. The stock has a market capitalization of $11.86 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 1.93 and a beta of 1.79.

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

Align Technology Company 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.