Ossiam Increases Stake in Align Technology, Inc. $ALGN

Ossiam boosted its position in Align Technology, Inc. (NASDAQ:ALGN) by 769.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 163,983 shares of the medical equipment provider’s stock after acquiring an additional 145,120 shares during the period. Ossiam owned 0.23% of Align Technology worth $20,534,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Sentry Investment Management LLC lifted its stake in shares of 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 buying an additional 79 shares in the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in Align Technology in the 3rd quarter valued at approximately $26,000. Rothschild Investment LLC raised its holdings in Align Technology by 140.3% during the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after acquiring an additional 87 shares during the period. Quent Capital LLC bought a new stake in Align Technology during the 3rd quarter valued at $30,000. Finally, TD Private Client Wealth LLC lifted its position in shares of Align Technology by 135.6% during the third quarter. TD Private Client Wealth LLC now owns 238 shares of the medical equipment provider’s stock worth $30,000 after acquiring an additional 137 shares in the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALGN. Jefferies Financial Group lifted their price target on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Barclays increased their price objective on Align Technology from $170.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 25th. Morgan Stanley raised their target price on Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Leerink Partners lifted their target price on Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, Wells Fargo & Company upped their price target on Align Technology from $181.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $198.08.

Align Technology Trading Down 1.6%

ALGN stock opened at $164.23 on Friday. The company’s 50 day moving average is $175.96 and its 200 day moving average is $153.17. The stock has a market cap of $11.71 billion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 1.82 and a beta of 1.79. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, beating analysts’ consensus estimates of $2.99 by $0.30. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the firm posted $2.44 earnings per share. Align Technology’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, sell-side analysts forecast that Align Technology, Inc. will post 7.98 EPS 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 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 in the company, valued at approximately $1,559,346.47. This trade represents a 49.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by insiders.

Align Technology 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.