Align Technology, Inc. $ALGN Shares Bought by Ninety One North America Inc.

Ninety One North America Inc. raised its position in Align Technology, Inc. (NASDAQ:ALGN) by 1.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 169,028 shares of the medical equipment provider’s stock after acquiring an additional 2,992 shares during the period. Ninety One North America Inc. owned approximately 0.24% of Align Technology worth $26,394,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Merit Financial Group LLC lifted its stake in shares of Align Technology by 197.3% in the 4th quarter. Merit Financial Group LLC now owns 8,167 shares of the medical equipment provider’s stock worth $1,275,000 after acquiring an additional 5,420 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Align Technology by 18.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,588 shares of the medical equipment provider’s stock worth $1,809,000 after buying an additional 1,809 shares in the last quarter. Parcion Private Wealth LLC purchased a new stake in Align Technology during the fourth quarter worth about $247,000. CWM LLC boosted its holdings in Align Technology by 419.7% during the fourth quarter. CWM LLC now owns 103,817 shares of the medical equipment provider’s stock worth $16,211,000 after buying an additional 83,842 shares in the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its holdings in Align Technology by 32.1% during the fourth quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 925 shares of the medical equipment provider’s stock worth $144,000 after buying an additional 225 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Trading Up 2.7%

Shares of ALGN opened at $190.07 on Friday. The stock has a market cap of $13.61 billion, a P/E ratio of 33.58, a PEG ratio of 2.02 and a beta of 1.81. The company has a 50-day moving average of $179.65 and a two-hundred day moving average of $160.44. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $208.30.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on ALGN. Weiss Ratings reissued a “hold (c-)” rating on shares of Align Technology in a report on Wednesday. UBS Group boosted their price objective on shares of Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Citigroup began coverage on shares of Align Technology in a report on Wednesday. They set a “buy” rating and a $240.00 price objective on the stock. Barclays raised shares of Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 price objective on the stock in a report on Tuesday, March 17th. Finally, Evercore reissued an “outperform” rating on shares of Align Technology in a report on Wednesday, April 8th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Align Technology currently has a consensus rating of “Moderate Buy” and an average price target of $201.31.

Insider Transactions at Align Technology

In other Align Technology news, EVP John Morici sold 7,969 shares of Align Technology stock in a transaction dated 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 in the company, valued at approximately $1,559,346.47. The trade was a 49.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

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.