NEOS Investment Management LLC Raises Holdings in Align Technology, Inc. $ALGN

NEOS Investment Management LLC grew its stake in Align Technology, Inc. (NASDAQ:ALGN) by 49.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,889 shares of the medical equipment provider’s stock after purchasing an additional 3,581 shares during the period. NEOS Investment Management LLC’s holdings in Align Technology were worth $1,364,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Align Technology by 38.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 15,551 shares of the medical equipment provider’s stock worth $2,029,000 after buying an additional 4,359 shares in the last quarter. AE Wealth Management LLC purchased a new position in shares of Align Technology in the third quarter worth about $650,000. Hussman Strategic Advisors Inc. acquired a new position in Align Technology during the third quarter worth about $3,156,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Align Technology during the 3rd quarter valued at about $1,327,000. Finally, Nordea Investment Management AB raised its holdings in Align Technology by 20.7% in the 3rd quarter. Nordea Investment Management AB now owns 770,360 shares of the medical equipment provider’s stock valued at $95,178,000 after acquiring an additional 132,019 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

NASDAQ ALGN opened at $190.02 on Friday. The stock has a market capitalization of $13.63 billion, a P/E ratio of 33.57, a PEG ratio of 2.08 and a beta of 1.84. The firm’s 50-day moving average is $169.74 and its two-hundred day moving average is $149.29. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month 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 (EPS) 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 the consensus estimate of $1.03 billion. During the same period in the previous year, the firm earned $2.44 EPS. The business’s revenue was up 5.3% on a year-over-year basis. As a group, analysts anticipate that Align Technology, Inc. will post 7.98 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Evercore boosted their target price on Align Technology from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Mizuho boosted their price objective on Align Technology from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Stifel Nicolaus upped their target price on Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Thursday, October 30th. Finally, Morgan Stanley boosted their price target on shares of Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a research 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 company. According to data from MarketBeat, Align Technology has an average rating of “Hold” and a consensus target price of $195.58.

Insider Transactions at Align Technology

In other Align Technology news, EVP John Morici sold 7,969 shares of the company’s stock in a transaction on 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 transaction, the executive vice president directly owned 8,237 shares in the company, valued at $1,559,346.47. This represents a 49.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

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.