Lecap Asset Management Ltd. Invests $1.81 Million in Align Technology, Inc. $ALGN

Lecap Asset Management Ltd. bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 11,616 shares of the medical equipment provider’s stock, valued at approximately $1,814,000.

Other institutional investors also recently modified their holdings of the company. Independence Bank of Kentucky raised its position in shares of Align Technology by 77.7% during the fourth quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 80 shares during the period. Sentry Investment Management LLC raised its position in shares of Align Technology by 73.1% during the third quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 79 shares during the period. CYBER HORNET ETFs LLC acquired a new position in shares of Align Technology during the second quarter worth approximately $36,000. Miller Global Investments LLC acquired a new position in shares of Align Technology during the fourth quarter worth approximately $31,000. Finally, MUFG Securities EMEA plc acquired a new position in shares of Align Technology during the second quarter worth approximately $38,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Price Performance

Shares of Align Technology stock opened at $190.07 on Friday. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $208.30. The firm has a market cap of $13.61 billion, a PE ratio of 33.58, a P/E/G ratio of 2.02 and a beta of 1.81. The stock has a fifty day moving average price of $179.65 and a 200-day moving average price of $160.68.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.03 billion. During the same period last year, the firm posted $2.44 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ALGN shares. UBS Group increased their price target on Align Technology from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, February 5th. Stifel Nicolaus increased their price target on Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a research 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. Mizuho increased their price target on Align Technology from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Finally, Robert W. Baird set a $218.00 price target on Align Technology in a research report on Thursday, February 5th. Eight research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $201.31.

Insider Activity

In other news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction on Wednesday, February 18th. The stock was 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 directly owned 8,237 shares of the company’s stock, valued at $1,559,346.47. This trade represents a 49.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.66% of the stock is currently owned by corporate 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.