Quantum Capital Management Boosts Holdings in Align Technology, Inc. (ALGN)

Quantum Capital Management raised its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,545 shares of the medical equipment provider’s stock after acquiring an additional 45 shares during the quarter. Quantum Capital Management’s holdings in Align Technology were worth $439,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Horan Capital Advisors LLC. bought a new stake in shares of Align Technology in the 1st quarter worth approximately $28,000. Larson Financial Group LLC raised its stake in Align Technology by 588.2% during the 1st quarter. Larson Financial Group LLC now owns 117 shares of the medical equipment provider’s stock valued at $33,000 after buying an additional 100 shares during the last quarter. Captrust Financial Advisors raised its stake in Align Technology by 67.6% during the 4th quarter. Captrust Financial Advisors now owns 124 shares of the medical equipment provider’s stock valued at $26,000 after buying an additional 50 shares during the last quarter. Lindbrook Capital LLC raised its stake in Align Technology by 110.0% during the 1st quarter. Lindbrook Capital LLC now owns 126 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 66 shares during the last quarter. Finally, Berman Capital Advisors LLC purchased a new stake in Align Technology during the 4th quarter valued at $27,000. 82.62% of the stock is currently owned by institutional investors and hedge funds.

ALGN opened at $321.93 on Friday. Align Technology, Inc. has a 52 week low of $177.93 and a 52 week high of $398.88. The stock has a market cap of $25.86 billion, a price-to-earnings ratio of 65.43, a P/E/G ratio of 2.59 and a beta of 2.14.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, April 24th. The medical equipment provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.83 by $0.06. Align Technology had a net margin of 18.10% and a return on equity of 30.58%. The business had revenue of $549.00 million during the quarter, compared to the consensus estimate of $532.16 million. During the same quarter in the prior year, the firm earned $1.17 EPS. The business’s revenue was up 25.7% on a year-over-year basis. On average, equities research analysts forecast that Align Technology, Inc. will post 5.33 earnings per share for the current fiscal year.

In related news, SVP Julie Tay sold 1,250 shares of the stock in a transaction dated Tuesday, February 12th. The shares were sold at an average price of $254.58, for a total value of $318,225.00. Following the completion of the transaction, the senior vice president now owns 11,926 shares of the company’s stock, valued at approximately $3,036,121.08. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Yuval Shaked sold 400 shares of the stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $255.52, for a total transaction of $102,208.00. Following the completion of the transaction, the director now directly owns 24 shares of the company’s stock, valued at approximately $6,132.48. The disclosure for this sale can be found here. Insiders have sold a total of 25,210 shares of company stock valued at $6,743,633 in the last three months. Insiders own 1.30% of the company’s stock.

ALGN has been the subject of several analyst reports. OTR Global lowered Align Technology to a “positive” rating in a research note on Thursday, March 14th. Zacks Investment Research downgraded shares of Align Technology from a “hold” rating to a “sell” rating in a report on Tuesday, January 29th. ValuEngine downgraded shares of Align Technology from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. BidaskClub raised shares of Align Technology from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Finally, Barclays set a $325.00 target price on shares of Align Technology and gave the stock a “buy” rating in a report on Thursday, April 11th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $340.07.

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Align Technology Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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