Align Technology, Inc. $ALGN Shares Sold by WINTON GROUP Ltd

WINTON GROUP Ltd trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 78.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,986 shares of the medical equipment provider’s stock after selling 25,561 shares during the period. WINTON GROUP Ltd’s holdings in Align Technology were worth $875,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ALGN. Jefferies Financial Group Inc. lifted its holdings in Align Technology by 93.1% in the third quarter. Jefferies Financial Group Inc. now owns 5,600 shares of the medical equipment provider’s stock worth $701,000 after purchasing an additional 2,700 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Align Technology during the 3rd quarter valued at about $591,000. Rhenman & Partners Asset Management AB increased its stake in Align Technology by 24.8% during the 3rd quarter. Rhenman & Partners Asset Management AB now owns 83,000 shares of the medical equipment provider’s stock valued at $10,393,000 after buying an additional 16,500 shares during the period. Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Align Technology by 252.6% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 21,125 shares of the medical equipment provider’s stock worth $2,645,000 after buying an additional 15,133 shares in the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of Align Technology during the 3rd quarter worth about $2,624,000. 88.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ALGN has been the subject of several recent analyst reports. Stifel Nicolaus increased their price objective on shares of Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Piper Sandler boosted their target price on Align Technology from $200.00 to $220.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Weiss Ratings upgraded Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. Robert W. Baird set a $218.00 price target on Align Technology in a research note on Thursday, February 5th. Finally, Wall Street Zen raised Align Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 7th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Align Technology has a consensus rating of “Hold” and an average price target of $198.08.

Align Technology Trading Down 2.3%

Shares of NASDAQ ALGN traded down $3.90 during midday trading on Friday, reaching $163.02. The company’s stock had a trading volume of 218,038 shares, compared to its average volume of 1,201,757. The company has a 50 day moving average price of $175.80 and a 200 day moving average price of $153.04. Align Technology, Inc. has a one year low of $122.00 and a one year high of $208.30. The company has a market cap of $11.62 billion, a price-to-earnings ratio of 28.79, a price-to-earnings-growth ratio of 1.90 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 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.30. The firm had revenue of $1.05 billion during 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%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $2.44 earnings per share. Research analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Insider Activity at Align Technology

In other news, EVP John Morici sold 7,969 shares of the firm’s 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 completion of the sale, the executive vice president directly owned 8,237 shares of the company’s stock, valued at $1,559,346.47. This trade represents a 49.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.66% of the company’s stock.

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.