19,442 Shares in Align Technology, Inc. $ALGN Bought by Prosight Management LP

Prosight Management LP purchased a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 19,442 shares of the medical equipment provider’s stock, valued at approximately $2,435,000.

A number of other large investors have also recently made changes to their positions in the business. Rothschild Investment LLC grew its holdings in shares of Align Technology by 140.3% during the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 87 shares during the last quarter. Sentry Investment Management LLC raised its holdings in shares of Align Technology by 73.1% in the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 79 shares during the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of Align Technology in the 2nd quarter worth about $36,000. MUFG Securities EMEA plc bought a new position in Align Technology in the 2nd quarter valued at about $38,000. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in Align Technology during the 3rd quarter valued at about $26,000. 88.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP John Morici sold 7,969 shares of the 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 completion of the transaction, the executive vice president owned 8,237 shares in the company, valued at approximately $1,559,346.47. This represents a 49.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

ALGN has been the subject of several analyst reports. Leerink Partners increased their price objective on Align Technology from $210.00 to $225.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Evercore upped their price target on Align Technology from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Wells Fargo & Company increased 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. UBS Group lifted their price objective on shares of Align Technology from $175.00 to $185.00 and gave the stock a “neutral” 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 note on Friday, January 16th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $198.08.

Align Technology Trading Down 1.6%

Shares of Align Technology stock opened at $164.23 on Friday. The business’s fifty day simple moving average is $175.96 and its 200 day simple moving average is $153.17. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $208.30. The firm has a market capitalization of $11.71 billion, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 1.82 and a beta of 1.79.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data 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 firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $2.44 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts predict that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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.