Ninety One UK Ltd Has $347.79 Million Stock Position in Align Technology, Inc. $ALGN

Ninety One UK Ltd reduced its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 1.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,227,303 shares of the medical equipment provider’s stock after selling 39,889 shares during the period. Ninety One UK Ltd’s holdings in Align Technology were worth $347,793,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Independence Bank of Kentucky raised its holdings in Align Technology by 77.7% during the 4th quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 80 shares during the period. Sentry Investment Management LLC raised its holdings in shares of Align Technology by 73.1% in the third 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. CYBER HORNET ETFs LLC acquired a new stake in shares of Align Technology in the second quarter valued at approximately $36,000. Miller Global Investments LLC acquired a new stake in shares of Align Technology in the fourth quarter valued at approximately $31,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Align Technology in the second quarter valued at approximately $38,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Trading Up 2.7%

Shares of ALGN opened at $190.07 on Friday. The company has a market cap of $13.61 billion, a price-to-earnings ratio of 33.58, a PEG ratio of 2.02 and a beta of 1.81. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30. The company’s fifty day simple moving average is $179.65 and its 200 day simple moving average is $160.44.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $2.99 by $0.30. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the previous year, the company earned $2.44 earnings per share. As a group, research analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Insider Buying and Selling

In other Align Technology news, EVP John Morici sold 7,969 shares of Align Technology stock in a transaction 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 transaction, the executive vice president directly owned 8,237 shares of the company’s stock, valued at $1,559,346.47. The trade was a 49.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ALGN shares. Piper Sandler lifted their price objective on shares of Align Technology from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Citigroup started coverage on shares of Align Technology in a report on Wednesday. They issued a “buy” rating and a $240.00 price objective on the stock. Wells Fargo & Company lifted their price objective on shares of Align Technology from $181.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Stifel Nicolaus lifted their price objective on shares of Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Finally, Morgan Stanley lifted their price objective on shares of Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Eight analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $201.31.

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.