Numerai GP LLC Acquires New Stake in Align Technology, Inc. $ALGN

Numerai GP LLC bought a new position in Align Technology, Inc. (NASDAQ:ALGN) in the third quarter, HoldingsChannel.com reports. The firm bought 23,152 shares of the medical equipment provider’s stock, valued at approximately $2,899,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Sentry Investment Management LLC raised its stake 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. acquired a new position in shares of Align Technology during the third quarter worth about $26,000. Rothschild Investment LLC grew its holdings in shares of Align Technology by 140.3% during the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after buying an additional 87 shares in the last quarter. Quent Capital LLC acquired a new stake in Align Technology in the 3rd quarter valued at approximately $30,000. Finally, TD Private Client Wealth LLC raised its position in Align Technology by 135.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 238 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 137 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Insiders Place Their Bets

In related news, EVP John Morici sold 7,969 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total value of $1,508,611.39. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ALGN shares. Evercore upped their price target on Align Technology from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report 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, March 7th. Jefferies Financial Group boosted their price objective on shares of Align Technology from $155.00 to $185.00 and gave the stock a “hold” rating in a research report on Thursday, February 5th. Weiss Ratings upgraded shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 16th. Finally, Mizuho raised their target price on shares of Align Technology from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $198.08.

Align Technology Stock Performance

Align Technology stock opened at $169.45 on Tuesday. The stock has a 50-day simple moving average of $176.15 and a 200 day simple moving average of $153.53. The stock has a market capitalization of $12.08 billion, a P/E ratio of 29.94, a PEG ratio of 1.79 and a beta of 1.79. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $208.30.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $0.30. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company earned $2.44 earnings per share. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. Research analysts forecast 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.