EFG Asset Management North America Corp. Increases Position in Align Technology, Inc. $ALGN

EFG Asset Management North America Corp. increased its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 67.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,451 shares of the medical equipment provider’s stock after acquiring an additional 7,852 shares during the period. EFG Asset Management North America Corp.’s holdings in Align Technology were worth $2,435,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Steigerwald Gordon & Koch Inc. bought a new position in Align Technology in the 3rd quarter valued at $26,000. Rothschild Investment LLC grew its position in Align Technology by 140.3% during the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after buying an additional 87 shares during the period. True Wealth Design LLC grew its position in Align Technology by 7,650.0% during the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock valued at $29,000 after buying an additional 153 shares during the period. Quent Capital LLC purchased a new stake in Align Technology during the third quarter worth about $30,000. Finally, TD Private Client Wealth LLC raised its position in 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 worth $30,000 after acquiring an additional 137 shares during the period. 88.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ALGN has been the subject of a number of research reports. Piper Sandler reissued an “overweight” rating and set a $200.00 target price (up from $190.00) on shares of Align Technology in a research report on Thursday, October 30th. Leerink Partners raised their target price on Align Technology from $189.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, January 22nd. Zacks Research raised Align Technology from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 30th. UBS Group cut their price target on Align Technology from $160.00 to $155.00 and set a “neutral” rating for the company in a research note on Thursday, October 16th. Finally, Evercore ISI lowered their price objective on Align Technology from $220.00 to $170.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 25th. Six analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Align Technology presently has an average rating of “Hold” and a consensus price target of $176.82.

Align Technology Stock Down 0.4%

ALGN stock opened at $167.04 on Wednesday. The stock has a 50-day simple moving average of $159.35 and a two-hundred day simple moving average of $149.57. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $232.20. The firm has a market capitalization of $11.99 billion, a PE ratio of 32.37, a PEG ratio of 1.88 and a beta of 1.83.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, October 29th. The medical equipment provider reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.23. The company had revenue of $995.69 million during the quarter, compared to analyst estimates of $980.75 million. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. Align Technology’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the business earned $2.35 earnings per share. On average, equities research analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

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.