Jupiter Asset Management Ltd. Takes $12.13 Million Position in Align Technology, Inc. $ALGN

Jupiter Asset Management Ltd. acquired a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 96,867 shares of the medical equipment provider’s stock, valued at approximately $12,130,000.

Several other large investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in Align Technology in the second quarter valued at $155,297,000. Ninety One UK Ltd raised its position in shares of Align Technology by 18.3% during the 3rd quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock worth $283,898,000 after acquiring an additional 350,883 shares in the last quarter. Bank of America Corp DE raised its position in shares of Align Technology by 60.7% during the 2nd quarter. Bank of America Corp DE now owns 786,637 shares of the medical equipment provider’s stock worth $148,934,000 after acquiring an additional 297,117 shares in the last quarter. Artisan Partners Limited Partnership purchased a new stake in Align Technology during the second quarter worth approximately $55,061,000. Finally, Pacer Advisors Inc. boosted its holdings in Align Technology by 1,999.8% in the third quarter. Pacer Advisors Inc. now owns 232,171 shares of the medical equipment provider’s stock valued at $29,072,000 after purchasing an additional 221,114 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

NASDAQ ALGN opened at $190.02 on Friday. The firm has a market cap of $13.63 billion, a PE ratio of 33.57, a P/E/G ratio of 2.08 and a beta of 1.84. Align Technology, Inc. has a one year low of $122.00 and a one year high of $208.30. The firm’s fifty day moving average is $169.74 and its two-hundred day moving average is $149.29.

Align Technology (NASDAQ:ALGN) last announced its 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 business 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 business’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.44 earnings per share. Research analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ALGN shares. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. Stifel Nicolaus lifted their price target on shares of Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Leerink Partners upped their price objective on shares of Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Morgan Stanley raised their price objective on Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Finally, Wall Street Zen raised Align Technology from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $195.58.

Insider Buying and Selling at Align Technology

In other Align Technology news, EVP John Morici sold 7,969 shares of Align Technology 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 in the company, valued at approximately $1,559,346.47. This trade represents a 49.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

Align Technology Company 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.