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

Clarkston Capital Partners LLC raised its stake in Align Technology, Inc. (NASDAQ:ALGN) by 25.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 141,215 shares of the medical equipment provider’s stock after buying an additional 28,850 shares during the period. Clarkston Capital Partners LLC’s holdings in Align Technology were worth $17,683,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sentry Investment Management LLC raised its holdings in shares of Align Technology by 73.1% during the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 79 shares during the period. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Align Technology during the 3rd quarter valued at about $26,000. Rothschild Investment LLC grew its holdings in shares of Align Technology by 140.3% in the second quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock valued at $28,000 after purchasing an additional 87 shares during the period. True Wealth Design LLC increased its position in Align Technology by 7,650.0% during the second quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 153 shares during the last quarter. Finally, Quent Capital LLC acquired a new stake in Align Technology during the third quarter worth about $30,000. 88.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Align Technology

In other news, EVP John Morici sold 7,969 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the completion of the transaction, the executive vice president directly owned 8,237 shares of the company’s stock, valued at approximately $1,559,346.47. The trade was a 49.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Align Technology Trading Down 0.9%

NASDAQ:ALGN opened at $174.00 on Monday. The firm has a market cap of $12.40 billion, a PE ratio of 30.74, a price-to-earnings-growth ratio of 1.90 and a beta of 1.79. The stock has a fifty day moving average price of $174.64 and a 200 day moving average price of $152.40. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $208.30.

Align Technology (NASDAQ:ALGN) last issued its quarterly 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 company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.Align Technology’s revenue was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.44 EPS. Equities analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on ALGN shares. Leerink Partners boosted their target price on shares of Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Morgan Stanley raised their price target on shares of Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Mizuho lifted their price target on shares of Align Technology from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Evercore upped 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, Weiss Ratings upgraded Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Align Technology currently has an average rating of “Hold” and a consensus price target of $198.08.

About Align Technology

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.