Keel Point LLC Acquires Shares of 1,007 Align Technology, Inc. (NASDAQ:ALGN)

Keel Point LLC bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,007 shares of the medical equipment provider’s stock, valued at approximately $276,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALGN. Sentry Investment Management LLC lifted its holdings in Align Technology by 417.4% during the 4th quarter. Sentry Investment Management LLC now owns 2,142 shares of the medical equipment provider’s stock worth $587,000 after purchasing an additional 1,728 shares during the last quarter. London & Capital Asset Management Ltd increased its position in Align Technology by 7.1% during the fourth quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider’s stock worth $15,899,000 after acquiring an additional 3,843 shares during the period. Cornercap Investment Counsel Inc. acquired a new stake in Align Technology in the 4th quarter worth about $2,714,000. Grove Bank & Trust boosted its holdings in Align Technology by 5.4% in the 4th quarter. Grove Bank & Trust now owns 1,882 shares of the medical equipment provider’s stock valued at $516,000 after purchasing an additional 97 shares during the period. Finally, Vontobel Holding Ltd. grew its position in shares of Align Technology by 67.5% during the 4th quarter. Vontobel Holding Ltd. now owns 28,877 shares of the medical equipment provider’s stock worth $7,912,000 after purchasing an additional 11,641 shares in the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Trading Up 0.1 %

Shares of ALGN stock opened at $305.10 on Wednesday. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20. The stock has a market cap of $22.96 billion, a price-to-earnings ratio of 52.42, a PEG ratio of 5.67 and a beta of 1.65. The stock has a 50-day moving average of $312.30 and a 200-day moving average of $269.75.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.13. The company had revenue of $956.73 million during the quarter, compared to analysts’ expectations of $928.57 million. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. Sell-side analysts forecast that Align Technology, Inc. will post 7.65 earnings per share for the current year.

Insider Transactions at Align Technology

In other news, EVP Emory Wright sold 2,524 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the transaction, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Align Technology news, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the transaction, the executive vice president now owns 709 shares in the company, valued at $203,802.05. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph Lacob sold 10,000 shares of Align Technology stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the transaction, the director now owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The disclosure for this sale can be found here. Insiders sold a total of 27,524 shares of company stock valued at $8,403,924 in the last quarter. 0.72% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Piper Sandler increased their price target on Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a research report on Thursday, March 14th. Stifel Nicolaus upped their price objective on shares of Align Technology from $340.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, March 15th. The Goldman Sachs Group upped their price target on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a report on Friday, February 2nd. Leerink Partnrs restated a “market perform” rating on shares of Align Technology in a research note on Monday, February 26th. Finally, UBS Group boosted their price target on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $339.91.

About Align Technology

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.