Willis Investment Counsel Makes New Investment in Align Technology, Inc. $ALGN

Willis Investment Counsel acquired a new position in Align Technology, Inc. (NASDAQ:ALGN) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 6,023 shares of the medical equipment provider’s stock, valued at approximately $940,000.

A number of other hedge funds also recently modified their holdings of ALGN. Capital International Investors lifted its position in shares of Align Technology by 88.6% in the 3rd quarter. Capital International Investors now owns 3,050,373 shares of the medical equipment provider’s stock worth $381,968,000 after acquiring an additional 1,433,393 shares during the period. Holocene Advisors LP bought a new stake in shares of Align Technology in the 3rd quarter worth approximately $179,035,000. Bank of America Corp DE lifted its position in shares of Align Technology by 72.0% in the 3rd quarter. Bank of America Corp DE now owns 1,353,125 shares of the medical equipment provider’s stock worth $169,438,000 after acquiring an additional 566,488 shares during the period. Invesco Ltd. lifted its position in shares of Align Technology by 37.4% in the 3rd quarter. Invesco Ltd. now owns 1,497,535 shares of the medical equipment provider’s stock worth $187,521,000 after acquiring an additional 407,559 shares during the period. Finally, Ninety One UK Ltd lifted its position in shares of Align Technology by 18.3% in the 3rd quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock worth $283,898,000 after acquiring an additional 350,883 shares during the period. Institutional investors own 88.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Leerink Partners raised their price objective on Align Technology from $210.00 to $225.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Stifel Nicolaus raised 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. Robert W. Baird set a $218.00 price target on shares of Align Technology in a research note on Thursday, February 5th. Piper Sandler raised their price target on shares of Align Technology from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Finally, Barclays upgraded shares of Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 price target for the company in a research note on Tuesday, March 17th. Seven analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Align Technology has a consensus rating of “Moderate Buy” and an average target price of $198.08.

Align Technology Stock Up 6.0%

Shares of ALGN opened at $176.83 on Thursday. The stock has a market cap of $12.66 billion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 1.86 and a beta of 1.81. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $208.30. The company has a 50-day moving average price of $177.61 and a two-hundred day moving average price of $158.00.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS 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 company’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.44 earnings per share. Equities research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Insider Buying and Selling at Align Technology

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