Polianta Ltd Makes New $1.62 Million Investment in Align Technology, Inc. $ALGN

Polianta Ltd purchased a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) during the fourth quarter, Holdings Channel.com reports. The firm purchased 10,400 shares of the medical equipment provider’s stock, valued at approximately $1,623,000. Align Technology comprises 0.2% of Polianta Ltd’s portfolio, making the stock its 24th biggest holding.

Other hedge funds have also made changes to their positions in the company. Arizona State Retirement System boosted its stake in Align Technology by 0.4% in the 3rd quarter. Arizona State Retirement System now owns 20,387 shares of the medical equipment provider’s stock worth $2,553,000 after purchasing an additional 79 shares during the period. Sentry Investment Management LLC increased its holdings in shares of Align Technology by 73.1% in the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after purchasing an additional 79 shares during the period. Allworth Financial LP grew its position in Align Technology by 3.3% during the third quarter. Allworth Financial LP now owns 2,874 shares of the medical equipment provider’s stock valued at $360,000 after purchasing an additional 92 shares in the last quarter. Royal London Asset Management Ltd. increased its stake in Align Technology by 0.3% in the 2nd quarter. Royal London Asset Management Ltd. now owns 31,629 shares of the medical equipment provider’s stock valued at $5,988,000 after buying an additional 93 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Align Technology by 16.7% in the 2nd quarter. Smartleaf Asset Management LLC now owns 726 shares of the medical equipment provider’s stock valued at $137,000 after buying an additional 104 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Insider Transactions at Align Technology

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

Align Technology Stock Down 0.1%

Shares of ALGN stock opened at $166.26 on Tuesday. The company has a market cap of $11.85 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 1.81 and a beta of 1.79. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $208.30. The business’s 50 day moving average is $177.04 and its two-hundred day moving average is $156.20.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, topping the consensus estimate of $2.99 by $0.30. The company had revenue of $1.05 billion for 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%.The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.44 EPS. As a group, equities analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Analyst Ratings Changes

ALGN has been the subject of a number of research reports. 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. Wells Fargo & Company upped their price target on shares of Align Technology from $181.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Stifel Nicolaus lifted their price objective on Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Wall Street Zen upgraded Align Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 7th. Finally, UBS Group upped their target price on Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $198.08.

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.