Sicart Associates LLC Purchases New Stake in Align Technology, Inc. (NASDAQ:ALGN)

Sicart Associates LLC purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 14,505 shares of the medical equipment provider’s stock, valued at approximately $2,624,000. Align Technology comprises 0.9% of Sicart Associates LLC’s portfolio, making the stock its 27th largest holding.

Other institutional investors have also recently bought and sold shares of the company. Ossiam acquired a new position in Align Technology in the second quarter worth $43,000. TRUE Private Wealth Advisors bought a new position in shares of Align Technology during the 2nd quarter worth approximately $45,000. CSat Investment Advisory L.P. boosted its stake in shares of Align Technology by 218.7% during the 2nd quarter. CSat Investment Advisory L.P. now owns 239 shares of the medical equipment provider’s stock worth $65,000 after acquiring an additional 164 shares during the period. FTB Advisors Inc. boosted its stake in shares of Align Technology by 102.9% during the 2nd quarter. FTB Advisors Inc. now owns 278 shares of the medical equipment provider’s stock worth $76,000 after acquiring an additional 141 shares during the period. Finally, Next Capital Management LLC boosted its stake in shares of Align Technology by 58.9% during the 2nd quarter. Next Capital Management LLC now owns 286 shares of the medical equipment provider’s stock worth $78,000 after acquiring an additional 106 shares during the period. Institutional investors and hedge funds own 88.29% of the company’s stock.

Shares of NASDAQ:ALGN traded up $0.19 during midday trading on Monday, hitting $214.07. The company had a trading volume of 13,402 shares, compared to its average volume of 1,147,354. The company has a market cap of $17.09 billion, a price-to-earnings ratio of 43.47, a PEG ratio of 1.76 and a beta of 2.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.85 and a quick ratio of 1.74. The company has a fifty day moving average of $184.74 and a two-hundred day moving average of $249.39. Align Technology, Inc. has a 12-month low of $169.84 and a 12-month high of $334.64.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, July 24th. The medical equipment provider reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.13. The company had revenue of $600.70 million during the quarter, compared to the consensus estimate of $599.86 million. Align Technology had a net margin of 19.06% and a return on equity of 29.26%. Align Technology’s quarterly revenue was up 22.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 EPS. Research analysts expect that Align Technology, Inc. will post 5 earnings per share for the current fiscal year.

In related news, Director Joseph Lacob sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $177.64, for a total transaction of $1,776,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrea Lynn Saia sold 4,157 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $179.54, for a total transaction of $746,347.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,157 shares of company stock valued at $7,976,448. 1.30% of the stock is currently owned by corporate insiders.

Several analysts recently issued reports on the company. Stifel Nicolaus reduced their price target on Align Technology from $360.00 to $290.00 and set a “buy” rating for the company in a research note on Thursday, July 25th. Guggenheim downgraded Align Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $250.00 to $200.00 in a research note on Monday, October 7th. Barclays lowered their price objective on Align Technology from $300.00 to $272.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Robert W. Baird decreased their price target on Align Technology from $336.00 to $259.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. Finally, UBS Group set a $230.00 price target on Align Technology and gave the company a “hold” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $249.80.

Align Technology Company Profile

Align Technology, Inc, a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontics, and restorative and aesthetic dentistry worldwide. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign Comprehensive treatment that addresses the orthodontic needs of teenage patients, such as compliance indicators and compensation for tooth eruption; Invisalign Assist treatment, which offers support to dental practitioners throughout the treatment process, including progress tracking; and Invisalign First Phase I and Invisalign First Comprehensive Phase II package for younger patients with early mixed dentition with a mixture of primary/baby and permanent teeth.

Further Reading: What is a Leveraged Buyout (LBO)?

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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