Grantham Mayo Van Otterloo & Co. LLC Raises Stock Holdings in Align Technology, Inc. $ALGN

Grantham Mayo Van Otterloo & Co. LLC grew its position in Align Technology, Inc. (NASDAQ:ALGN) by 252.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,125 shares of the medical equipment provider’s stock after acquiring an additional 15,133 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Align Technology were worth $2,645,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ALGN. Norges Bank acquired a new position in shares of Align Technology in the second quarter valued at approximately $155,297,000. Ninety One UK Ltd raised its stake in shares of Align Technology by 18.3% during the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock worth $283,898,000 after purchasing an additional 350,883 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Align Technology by 60.7% during the second quarter. Bank of America Corp DE now owns 786,637 shares of the medical equipment provider’s stock worth $148,934,000 after purchasing an additional 297,117 shares during the period. Artisan Partners Limited Partnership acquired a new stake in shares of Align Technology during the second quarter worth $55,061,000. Finally, Dimensional Fund Advisors LP grew its position in Align Technology by 79.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 605,532 shares of the medical equipment provider’s stock valued at $75,828,000 after buying an additional 268,198 shares during the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP John Morici sold 7,969 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total transaction 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. The trade was a 49.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.66% of the company’s stock.

Align Technology Stock Performance

Align Technology stock opened at $169.43 on Wednesday. Align Technology, Inc. has a one year low of $122.00 and a one year high of $208.30. The business has a fifty day moving average of $175.21 and a two-hundred day moving average of $152.79. The company has a market cap of $12.08 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 1.91 and a beta of 1.79.

Align Technology (NASDAQ:ALGN) last issued its 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. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the firm earned $2.44 EPS. The business’s revenue was up 5.3% on a year-over-year basis. Sell-side analysts predict that Align Technology, Inc. will post 7.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ALGN shares. Morgan Stanley boosted their price objective 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. Wall Street Zen raised shares of Align Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday. Stifel Nicolaus boosted their price target on shares of Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Wells Fargo & Company increased their price target on shares of Align Technology from $181.00 to $200.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Finally, Weiss Ratings upgraded shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target 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.