Dana Investment Advisors Inc. Takes Position in Align Technology, Inc. $ALGN

Dana Investment Advisors Inc. bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 79,785 shares of the medical equipment provider’s stock, valued at approximately $9,991,000.

Several other large investors have also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC grew its position in Align Technology by 38.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,551 shares of the medical equipment provider’s stock worth $2,029,000 after buying an additional 4,359 shares in the last quarter. AE Wealth Management LLC acquired a new position in Align Technology in the 3rd quarter valued at approximately $650,000. Hussman Strategic Advisors Inc. bought a new stake in shares of Align Technology in the 3rd quarter worth approximately $3,156,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Align Technology during the 3rd quarter worth approximately $1,327,000. Finally, Nordea Investment Management AB grew its holdings in shares of Align Technology by 20.7% during the 3rd quarter. Nordea Investment Management AB now owns 770,360 shares of the medical equipment provider’s stock worth $95,178,000 after purchasing an additional 132,019 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Performance

ALGN opened at $181.26 on Tuesday. The firm has a market cap of $13.01 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 2.08 and a beta of 1.84. The firm’s 50-day simple moving average is $170.11 and its 200-day simple moving average is $149.74. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $208.30.

Align Technology (NASDAQ:ALGN) last announced its quarterly 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. The firm had revenue of $1.05 billion during 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 quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the firm posted $2.44 EPS. As a group, sell-side analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Insider Activity at Align Technology

In other news, EVP John Morici sold 7,969 shares of the business’s stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total value of $1,508,611.39. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wells Fargo & Company upped their target price on Align Technology from $181.00 to $200.00 and gave the company an “overweight” rating in a research note on Thursday, February 5th. UBS Group increased their price objective on shares of Align Technology from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Barclays initiated coverage on shares of Align Technology in a research report on Monday, December 8th. They set an “equal weight” rating and a $170.00 target price on the stock. HSBC increased their price target on shares of Align Technology from $140.00 to $150.00 in a research report on Friday, October 31st. Finally, Mizuho raised their price target on shares of Align Technology from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, Align Technology currently has an average rating of “Hold” and an average target price of $195.58.

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.