Align Technology, Inc. $ALGN Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,301,611 shares of the medical equipment provider’s stock after purchasing an additional 58,546 shares during the period. Vanguard Group Inc. owned 11.45% of Align Technology worth $1,039,528,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its stake in shares of Align Technology by 44.4% in the 3rd quarter. Fifth Third Bancorp now owns 3,760 shares of the medical equipment provider’s stock worth $471,000 after buying an additional 1,157 shares in the last quarter. Smithfield Trust Co grew its holdings in Align Technology by 555.3% during the third quarter. Smithfield Trust Co now owns 675 shares of the medical equipment provider’s stock worth $85,000 after acquiring an additional 572 shares during the period. State of New Jersey Common Pension Fund D raised its position in Align Technology by 5.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 25,292 shares of the medical equipment provider’s stock worth $3,167,000 after acquiring an additional 1,322 shares in the last quarter. Aberdeen Group plc lifted its holdings in Align Technology by 55.8% in the 3rd quarter. Aberdeen Group plc now owns 54,449 shares of the medical equipment provider’s stock valued at $6,818,000 after acquiring an additional 19,501 shares during the last quarter. Finally, GF Fund Management CO. LTD. boosted its position in shares of Align Technology by 8.7% during the 3rd quarter. GF Fund Management CO. LTD. now owns 1,872 shares of the medical equipment provider’s stock valued at $234,000 after purchasing an additional 150 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other 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 owned 8,237 shares in the company, 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 Securities & Exchange Commission, which is available at this link. 0.66% of the stock is currently owned by company insiders.

Align Technology Stock Performance

NASDAQ ALGN opened at $190.02 on Friday. The firm’s 50 day moving average price is $169.74 and its two-hundred day moving average price is $149.36. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $208.30. The stock has a market cap of $13.63 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 2.08 and a beta of 1.84.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.30. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company earned $2.44 earnings per share. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. On average, research analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ALGN has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Piper Sandler upped their price target on Align Technology from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Leerink Partners increased their price objective on Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. 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. Finally, Mizuho boosted their target price on Align Technology from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, Align Technology has an average rating of “Hold” and a consensus price target of $195.58.

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.