Xponance Inc. Has $6.34 Million Position in Align Technology, Inc. (NASDAQ:ALGN)

Xponance Inc. boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 10.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,141 shares of the medical equipment provider’s stock after buying an additional 2,198 shares during the period. Xponance Inc.’s holdings in Align Technology were worth $6,341,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ALGN. Vanguard Group Inc. grew its holdings in Align Technology by 1.3% during the first quarter. Vanguard Group Inc. now owns 5,946,834 shares of the medical equipment provider’s stock worth $2,592,819,000 after buying an additional 75,255 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 34,131 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Align Technology by 2.5% during 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 purchasing an additional 29,497 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Align Technology by 2.1% during the second quarter. Alliancebernstein L.P. now owns 1,147,330 shares of the medical equipment provider’s stock worth $405,742,000 after purchasing an additional 24,139 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in 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 purchasing an additional 131,006 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Trading Down 0.8 %

Shares of ALGN opened at $298.98 on Friday. The stock has a 50-day moving average price of $312.79 and a 200-day moving average price of $270.18. The company has a market cap of $22.50 billion, a PE ratio of 51.37, a price-to-earnings-growth ratio of 5.37 and a beta of 1.65. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20.

Align Technology (NASDAQ:ALGN) last released 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 net margin of 11.52% and a return on equity of 13.88%. As a group, analysts predict that Align Technology, Inc. will post 7.69 earnings per share for the current year.

Insider Activity at Align Technology

In other news, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total value of $3,130,100.00. Following the completion of the transaction, the director now directly owns 146,994 shares in the company, valued at approximately $46,010,591.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Align Technology news, Director Joseph Lacob sold 10,000 shares of Align Technology 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 transaction, the director now directly owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Emory Wright sold 2,524 shares of the company’s 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 sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders have sold a total of 27,524 shares of company stock valued at $8,403,924 over the last 90 days. 0.64% of the stock is owned by insiders.

Analyst Ratings Changes

ALGN has been the topic of several recent analyst reports. Leerink Partnrs reissued a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. The Goldman Sachs Group raised their price target 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. UBS Group lifted their price target on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Piper Sandler increased their price objective on Align Technology from $335.00 to $355.00 and gave the company an “overweight” rating in a report on Thursday, March 14th. Finally, Stifel Nicolaus boosted their target price on Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $344.45.

Align Technology Profile

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.