Align Technology, Inc. $ALGN Stake Lifted by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 24.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 83,000 shares of the medical equipment provider’s stock after buying an additional 16,500 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Align Technology were worth $10,393,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Align Technology by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock valued at $1,624,000 after purchasing an additional 469 shares in the last quarter. Focus Partners Wealth raised its stake in shares of Align Technology by 5.2% in the 1st quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock worth $486,000 after buying an additional 151 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Align Technology in the 2nd quarter worth $204,000. Assetmark Inc. lifted its holdings in shares of Align Technology by 327.6% in the second quarter. Assetmark Inc. now owns 449 shares of the medical equipment provider’s stock valued at $85,000 after buying an additional 344 shares during the period. Finally, Atria Investments Inc boosted its stake in Align Technology by 4.9% during the second quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider’s stock valued at $298,000 after buying an additional 74 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Jefferies Financial Group lifted their target price on Align Technology from $155.00 to $185.00 and gave the stock a “hold” rating in a report on Thursday, February 5th. Wells Fargo & Company raised their price objective on shares of Align Technology from $181.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Weiss Ratings raised shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 16th. Morgan Stanley increased their target price on shares of Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Finally, Robert W. Baird set a $218.00 price target on shares of Align Technology in a research report on Thursday, February 5th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Align Technology presently has an average rating of “Hold” and an average price target of $198.08.

Insiders Place Their Bets

In other Align Technology news, EVP John Morici sold 7,969 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president directly owned 8,237 shares of the company’s stock, valued at $1,559,346.47. This represents a 49.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.66% of the stock is currently owned by insiders.

Align Technology Stock Performance

Align Technology stock opened at $174.00 on Friday. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $208.30. The firm has a market cap of $12.40 billion, a PE ratio of 30.74, a P/E/G ratio of 1.91 and a beta of 1.79. The firm’s 50 day moving average price is $174.64 and its two-hundred day moving average price is $152.34.

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