Align Technology, Inc. (NASDAQ:ALGN) Stake Raised by Slow Capital Inc.

Slow Capital Inc. boosted its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,543 shares of the medical equipment provider’s stock after acquiring an additional 262 shares during the quarter. Slow Capital Inc.’s holdings in Align Technology were worth $2,615,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Deepwater Asset Management LLC raised its holdings in Align Technology by 46.8% during the 4th quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock worth $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% during the 4th quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider’s stock valued at $15,899,000 after acquiring an additional 3,843 shares in the last quarter. Morgan Stanley grew its stake in Align Technology by 9.8% during the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock valued at $310,866,000 after acquiring an additional 90,581 shares in the last quarter. Country Trust Bank grew its stake in Align Technology by 27.7% during the 4th quarter. Country Trust Bank now owns 80,830 shares of the medical equipment provider’s stock valued at $22,147,000 after acquiring an additional 17,515 shares in the last quarter. Finally, Factory Mutual Insurance Co. grew its stake in Align Technology by 26.3% during the 4th quarter. Factory Mutual Insurance Co. now owns 143,293 shares of the medical equipment provider’s stock valued at $39,262,000 after acquiring an additional 29,800 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors.

Align Technology Price Performance

ALGN traded down $4.85 on Wednesday, hitting $300.25. The company had a trading volume of 316,104 shares, compared to its average volume of 749,922. The company’s fifty day moving average price is $312.30 and its 200 day moving average price is $269.75. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20. The stock has a market cap of $22.59 billion, a price-to-earnings ratio of 51.50, a price-to-earnings-growth ratio of 5.49 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. The firm had revenue of $956.73 million during the quarter, compared to analyst estimates of $928.57 million. On average, sell-side analysts forecast that Align Technology, Inc. will post 7.65 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on ALGN shares. Stifel Nicolaus lifted their target price on Align Technology from $340.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, March 15th. The Goldman Sachs Group lifted their target price on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research note on Friday, February 2nd. Piper Sandler lifted their target price on Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a research note on Thursday, March 14th. SVB Leerink started coverage on Align Technology in a research note on Monday, February 26th. They set a “market perform” rating and a $310.00 target price on the stock. Finally, Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Align Technology has a consensus rating of “Moderate Buy” and an average price target of $339.91.

Insider Transactions at Align Technology

In other news, EVP Emory Wright sold 2,524 shares of the company’s 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 in the company, valued at $203,802.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Emory Wright sold 2,524 shares of the company’s 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 in the company, valued at $203,802.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph Lacob sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $303.22, for a total value of $4,548,300.00. Following the transaction, the director now owns 131,994 shares of the company’s stock, valued at $40,023,220.68. 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 three months. 0.72% of the stock is currently owned by insiders.

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.