4,987 Shares in Align Technology, Inc. $ALGN Acquired by Bryce Point Capital LLC

Bryce Point Capital LLC bought a new stake in Align Technology, Inc. (NASDAQ:ALGN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,987 shares of the medical equipment provider’s stock, valued at approximately $624,000. Align Technology makes up 0.8% of Bryce Point Capital LLC’s holdings, making the stock its 28th biggest position.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rothschild Investment LLC grew its holdings in shares of Align Technology by 140.3% in the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 87 shares during the period. True Wealth Design LLC raised its stake 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 worth $29,000 after purchasing an additional 153 shares during the period. Sentry Investment Management LLC boosted its holdings in Align Technology by 73.1% in the 3rd 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 purchased a new stake in shares of Align Technology in the 2nd quarter valued at approximately $36,000. Finally, MUFG Securities EMEA plc acquired a new stake in shares of Align Technology during the 2nd 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 $192.50 on Tuesday. The business has a 50-day moving average of $164.18 and a 200 day moving average of $147.99. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $216.95. The stock has a market capitalization of $13.81 billion, a price-to-earnings ratio of 34.01, a price-to-earnings-growth ratio of 2.10 and a beta of 1.84.

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

Wall Street Analyst Weigh In

ALGN has been the topic of a number of recent analyst reports. Jefferies Financial Group upped their price objective on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a report on Thursday, February 5th. Mizuho lifted their target price on Align Technology from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Morgan Stanley upped their price target on Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Weiss Ratings upgraded Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 16th. Finally, Robert W. Baird set a $218.00 price objective on shares of Align Technology in a report on Thursday. Seven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, Align Technology has a consensus rating of “Hold” and a consensus target price of $195.92.

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.