Align Technology, Inc. $ALGN Shares Bought by Distillate Capital Partners LLC

Distillate Capital Partners LLC raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 74.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,224 shares of the medical equipment provider’s stock after purchasing an additional 47,535 shares during the quarter. Distillate Capital Partners LLC owned about 0.16% of Align Technology worth $13,928,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALGN. Sentry Investment Management LLC increased its position in shares of 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 acquiring an additional 79 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new stake in Align Technology during the 3rd quarter worth about $26,000. Rothschild Investment LLC lifted its position in Align Technology by 140.3% during the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 87 shares during the period. Quent Capital LLC purchased a new stake in Align Technology during the 3rd quarter valued at about $30,000. Finally, TD Private Client Wealth LLC grew its stake in Align Technology by 135.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 238 shares of the medical equipment provider’s stock valued at $30,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Trading Down 1.6%

Shares of ALGN stock opened at $164.23 on Monday. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $208.30. The stock has a market cap of $11.71 billion, a P/E ratio of 29.02, a P/E/G ratio of 1.79 and a beta of 1.79. The stock has a 50 day moving average of $175.96 and a 200 day moving average of $153.33.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, topping the consensus estimate of $2.99 by $0.30. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.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 posted $2.44 EPS. On average, research analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Insider Transactions at Align Technology

In related news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $1,559,346.47. This trade represents a 49.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

ALGN has been the subject of several research analyst reports. Stifel Nicolaus raised their price objective on Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Barclays increased their price target on shares of Align Technology from $170.00 to $200.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 25th. Jefferies Financial Group lifted their price objective on shares of Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Mizuho upped their price objective on shares of Align Technology from $200.00 to $215.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, UBS Group increased their price objective on shares of Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.