Unique Wealth Strategies LLC Takes Position in Align Technology, Inc. (NASDAQ:ALGN)

Unique Wealth Strategies LLC bought a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,950 shares of the medical equipment provider’s stock, valued at approximately $808,000.

Other hedge funds have also recently made changes to their positions in the company. Deepwater Asset Management LLC increased its stake in shares of Align Technology by 46.8% during the fourth quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock valued at $13,421,000 after buying an additional 15,608 shares during the period. London & Capital Asset Management Ltd grew its stake in Align Technology by 7.1% in the fourth quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider’s stock worth $15,899,000 after purchasing an additional 3,843 shares during the period. Morgan Stanley grew its stake in Align Technology by 9.8% in the third quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock worth $310,866,000 after purchasing an additional 90,581 shares during the period. Illinois Municipal Retirement Fund grew its stake in Align Technology by 20.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 33,344 shares of the medical equipment provider’s stock worth $9,136,000 after purchasing an additional 5,759 shares during the period. Finally, Country Trust Bank grew its stake in Align Technology by 27.7% in the fourth quarter. Country Trust Bank now owns 80,830 shares of the medical equipment provider’s stock worth $22,147,000 after purchasing an additional 17,515 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on ALGN. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. Stifel Nicolaus boosted their target price on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Piper Sandler reissued an “overweight” rating and issued a $375.00 target price (up from $355.00) on shares of Align Technology in a report on Thursday. Robert W. Baird boosted their target price on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, The Goldman Sachs Group boosted their target price on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $341.36.

Insiders Place Their Bets

In related news, EVP Emory Wright sold 2,524 shares of the stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the sale, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Emory Wright sold 2,524 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares of the company’s stock, valued at $203,802.05. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph Lacob sold 10,000 shares of the 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 directly owns 146,994 shares of the company’s stock, valued at $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 over the last quarter. 0.64% of the stock is currently owned by corporate insiders.

Align Technology Trading Down 0.5 %

ALGN stock traded down $1.48 during trading on Friday, reaching $309.02. The stock had a trading volume of 737,294 shares, compared to its average volume of 636,306. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $413.20. The stock’s 50 day moving average is $313.38 and its two-hundred day moving average is $270.98. The firm has a market cap of $23.25 billion, a PE ratio of 50.91, a PEG ratio of 5.56 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.13. The business had revenue of $956.73 million during the quarter, compared to analysts’ expectations of $928.57 million. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. On average, research analysts anticipate that Align Technology, Inc. will post 7.69 EPS for the current year.

About Align Technology

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.