Capital International Sarl Has $10 Million Position in Align Technology, Inc. $ALGN

Capital International Sarl grew its stake in Align Technology, Inc. (NASDAQ:ALGN) by 107.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,861 shares of the medical equipment provider’s stock after buying an additional 41,398 shares during the period. Capital International Sarl’s holdings in Align Technology were worth $10,000,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in ALGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Align Technology by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock worth $1,624,000 after acquiring an additional 469 shares during the period. Focus Partners Wealth increased its position in Align Technology by 5.2% during the 1st quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock valued at $486,000 after purchasing an additional 151 shares during the period. Sivia Capital Partners LLC acquired a new stake in Align Technology during the 2nd quarter valued at approximately $204,000. Atria Investments Inc raised its holdings in Align Technology by 4.9% during the 2nd quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider’s stock worth $298,000 after purchasing an additional 74 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Align Technology during the 2nd quarter worth approximately $282,000. 88.43% of the stock is currently owned by institutional investors.

Insider Activity at Align Technology

In related news, EVP John Morici sold 7,969 shares of Align Technology stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the sale, the executive vice president directly owned 8,237 shares in the company, valued at approximately $1,559,346.47. This trade represents a 49.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Evercore upped their price objective on shares of Align Technology from $180.00 to $200.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Piper Sandler lifted their target price on shares of Align Technology from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Leerink Partners boosted their target price on shares of Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Stifel Nicolaus upped their price target on shares of Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Finally, Wall Street Zen upgraded Align Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $198.08.

Align Technology Price Performance

ALGN opened at $169.43 on Wednesday. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $208.30. The firm has a market capitalization of $12.08 billion, a PE ratio of 29.93, a P/E/G ratio of 1.91 and a beta of 1.79. The company’s 50-day moving average is $175.21 and its 200 day moving average is $152.79.

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

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.