Align Technology, Inc. $ALGN Shares Acquired by Capital International Investors

Capital International Investors increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 88.6% in the third quarter, Holdings Channel reports. The institutional investor owned 3,050,373 shares of the medical equipment provider’s stock after acquiring an additional 1,433,393 shares during the quarter. Capital International Investors’ holdings in Align Technology were worth $381,968,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Sentry Investment Management LLC boosted its stake in Align Technology by 73.1% during the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 79 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Align Technology in the 3rd quarter worth about $26,000. Rothschild Investment LLC raised its stake in shares of Align Technology by 140.3% in the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 87 shares in the last quarter. Quent Capital LLC acquired a new stake in shares of Align Technology in the 3rd quarter valued at about $30,000. Finally, TD Private Client Wealth LLC raised its stake in shares of Align Technology by 135.6% in the 3rd quarter. TD Private Client Wealth LLC now owns 238 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 137 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP John Morici sold 7,969 shares of the firm’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 owned 8,237 shares of the company’s stock, valued at approximately $1,559,346.47. This trade represents a 49.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.66% of the company’s stock.

Align Technology Stock Down 3.2%

Shares of NASDAQ:ALGN opened at $169.43 on Wednesday. The company has a market cap of $12.08 billion, a PE ratio of 29.93, a P/E/G ratio of 1.91 and a beta of 1.79. 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 50-day simple moving average of $175.21 and a 200 day simple moving average of $152.79.

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

Analyst Ratings Changes

A number of research firms recently commented on ALGN. Weiss Ratings upgraded Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 16th. Barclays upped their price objective on Align Technology from $170.00 to $200.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 25th. Evercore increased their target price on Align Technology from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Robert W. Baird set a $218.00 target price on Align Technology in a research report on Thursday, February 5th. Finally, Wells Fargo & Company boosted their price target on Align Technology from $181.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $198.08.

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.