Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by London & Capital Asset Management Ltd

London & Capital Asset Management Ltd increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,025 shares of the medical equipment provider’s stock after purchasing an additional 3,843 shares during the period. London & Capital Asset Management Ltd owned 0.08% of Align Technology worth $15,899,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALGN. Vanguard Group Inc. boosted its stake in Align Technology by 1.3% in the first quarter. Vanguard Group Inc. now owns 5,946,834 shares of the medical equipment provider’s stock valued at $2,592,819,000 after acquiring an additional 75,255 shares in the last quarter. Geode Capital Management LLC boosted its stake in Align Technology by 2.2% in the first quarter. Geode Capital Management LLC now owns 1,583,410 shares of the medical equipment provider’s stock valued at $527,928,000 after acquiring an additional 34,131 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Align Technology by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 1,228,875 shares of the medical equipment provider’s stock valued at $375,200,000 after acquiring an additional 29,497 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Align Technology by 2.1% in the second quarter. Alliancebernstein L.P. now owns 1,147,330 shares of the medical equipment provider’s stock valued at $405,742,000 after acquiring an additional 24,139 shares in the last quarter. Finally, Morgan Stanley boosted its stake in shares of Align Technology by 14.0% during the fourth quarter. Morgan Stanley now owns 1,064,281 shares of the medical equipment provider’s stock worth $224,457,000 after buying an additional 131,006 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Transactions at Align Technology

In related news, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the sale, the director now owns 146,994 shares in the company, valued at $46,010,591.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Align Technology news, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction 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 owns 146,994 shares in the company, valued at approximately $46,010,591.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction on Wednesday, February 7th. The shares were 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 owns 709 shares in the company, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders sold a total of 27,524 shares of company stock valued at $8,403,924 in the last ninety days. Corporate insiders own 0.72% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ALGN shares. The Goldman Sachs Group increased their target price on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research note on Friday, February 2nd. Piper Sandler increased their target price on shares of Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, March 14th. Leerink Partnrs reiterated a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. Stifel Nicolaus increased their price target on shares of Align Technology from $340.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, March 15th. Finally, SVB Leerink started coverage on shares of Align Technology in a report on Monday, February 26th. They set a “market perform” rating and a $310.00 price target for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $334.45.

Align Technology Price Performance

Align Technology stock traded down $4.33 during mid-day trading on Monday, reaching $310.64. The company had a trading volume of 93,095 shares, compared to its average volume of 753,018. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year high of $413.20. The company has a market capitalization of $23.38 billion, a P/E ratio of 54.12, a P/E/G ratio of 5.67 and a beta of 1.65. The stock’s 50-day simple moving average is $311.38 and its 200-day simple moving average is $269.77.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.13. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. The business had revenue of $956.73 million during the quarter, compared to analysts’ expectations of $928.57 million. On average, equities analysts forecast that Align Technology, Inc. will post 7.65 EPS for the current fiscal 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.