117,447 Shares in Align Technology, Inc. $ALGN Acquired by Quantbot Technologies LP

Quantbot Technologies LP acquired a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) in the third quarter, HoldingsChannel reports. The firm acquired 117,447 shares of the medical equipment provider’s stock, valued at approximately $14,707,000. Align Technology comprises 0.4% of Quantbot Technologies LP’s portfolio, making the stock its 26th biggest holding.

Several other hedge funds also recently bought and sold shares of ALGN. Rothschild Investment LLC lifted its position in shares of Align Technology by 140.3% during the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after purchasing an additional 87 shares during the last quarter. True Wealth Design LLC increased its stake in 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 buying an additional 153 shares during the period. Sentry Investment Management LLC lifted its holdings in Align Technology by 73.1% during the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after buying an additional 79 shares in the last quarter. CYBER HORNET ETFs LLC purchased a new stake in Align Technology in the 2nd quarter valued at about $36,000. Finally, MUFG Securities EMEA plc bought a new position in Align Technology in the 2nd quarter worth about $38,000. Institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

ALGN opened at $190.10 on Friday. The firm has a market capitalization of $13.64 billion, a PE ratio of 33.59, a price-to-earnings-growth ratio of 2.07 and a beta of 1.84. The business’s 50-day moving average is $172.32 and its two-hundred day moving average is $150.98. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $208.30.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen upgraded Align Technology from a “hold” rating to a “buy” rating in a report on Saturday, January 3rd. Weiss Ratings raised Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. Jefferies Financial Group increased their price target on Align Technology from $155.00 to $185.00 and gave the stock a “hold” rating in a research report on Thursday, February 5th. Evercore lifted their price objective on Align Technology from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Finally, UBS Group increased their target price on shares of Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $198.08.

Insider Buying and Selling

In other Align Technology news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total value of $1,508,611.39. Following the completion of the sale, the executive vice president directly owned 8,237 shares in the company, valued at $1,559,346.47. This trade represents a 49.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is owned by insiders.

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.