Braidwell LP Sells 87,039 Shares of Align Technology, Inc. $ALGN

Braidwell LP trimmed its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 17.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 409,691 shares of the medical equipment provider’s stock after selling 87,039 shares during the period. Align Technology accounts for about 1.5% of Braidwell LP’s portfolio, making the stock its 23rd biggest holding. Braidwell LP’s holdings in Align Technology were worth $51,302,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Sentry Investment Management LLC lifted its holdings 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 purchasing an additional 79 shares during the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in Align Technology during the third quarter worth $26,000. Rothschild Investment LLC increased its holdings in shares of Align Technology by 140.3% in the second 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 during the last quarter. Quent Capital LLC bought a new position in shares of Align Technology in the third quarter valued at about $30,000. Finally, TD Private Client Wealth LLC raised its position in shares of Align Technology by 135.6% in the third 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 during the period. 88.43% of the stock is currently owned by institutional investors.

Insider Activity at Align Technology

In other news, EVP John Morici sold 7,969 shares of Align Technology stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total value of $1,508,611.39. Following the completion of the sale, the executive vice president directly owned 8,237 shares in the company, 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 accessible through this link. Corporate insiders own 0.66% of the company’s stock.

Align Technology Stock Performance

ALGN stock opened at $164.23 on Friday. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $208.30. The company has a market capitalization of $11.71 billion, a PE ratio of 29.02, a price-to-earnings-growth ratio of 1.79 and a beta of 1.79. The company’s 50-day simple moving average is $175.96 and its 200 day simple moving average is $153.25.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.30. The business 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 business’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.44 EPS. On average, analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Barclays lifted their target price on shares of Align Technology from $170.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 25th. Evercore increased their price target on shares of Align Technology from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Wells Fargo & Company raised their price objective on shares of Align Technology from $181.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Morgan Stanley boosted their price objective on Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Finally, Weiss Ratings raised Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $198.08.

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.