Focus Partners Advisor Solutions LLC Acquires 4,381 Shares of Align Technology, Inc. $ALGN

Focus Partners Advisor Solutions LLC grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 176.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,864 shares of the medical equipment provider’s stock after acquiring an additional 4,381 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in Align Technology were worth $930,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Sentry Investment Management LLC boosted its holdings in 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 acquiring an additional 79 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new position in Align Technology in the 3rd quarter worth $26,000. Rothschild Investment LLC raised its holdings in Align Technology by 140.3% in the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 87 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Align Technology by 7,650.0% in the 2nd 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. Finally, Quent Capital LLC purchased a new stake in shares of Align Technology in the 3rd quarter worth about $30,000. Institutional investors own 88.43% of the company’s stock.

Insider Transactions at Align Technology

In other news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president 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 legal filing with the SEC, which is available through this link. Corporate insiders own 0.66% of the company’s stock.

Align Technology Trading Down 0.9%

Shares of ALGN opened at $174.00 on Friday. The company has a market cap of $12.40 billion, a price-to-earnings ratio of 30.74, a P/E/G ratio of 1.92 and a beta of 1.79. The business’s fifty day simple moving average is $174.64 and its two-hundred day simple moving average is $152.28. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $208.30.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on ALGN shares. Robert W. Baird set a $218.00 price target on shares of Align Technology in a research report on Thursday, February 5th. Leerink Partners raised their price objective on shares of Align Technology from $210.00 to $225.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Wells Fargo & Company lifted their price objective on Align Technology from $181.00 to $200.00 and gave the company an “overweight” rating in a research report 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, Morgan Stanley increased their target price on Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Align Technology presently has an average rating of “Hold” and a consensus target price of $198.08.

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.