Align Technology, Inc. $ALGN Shares Acquired by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB increased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 24.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,000 shares of the medical equipment provider’s stock after purchasing an additional 16,500 shares during the period. Rhenman & Partners Asset Management AB owned 0.12% of Align Technology worth $10,393,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Atria Investments Inc raised its stake in Align Technology by 4.9% during the second quarter. Atria Investments Inc now owns 1,575 shares of the medical equipment provider’s stock valued at $298,000 after buying an additional 74 shares in the last quarter. Arizona State Retirement System lifted its holdings in Align Technology by 0.4% during the 3rd quarter. Arizona State Retirement System now owns 20,387 shares of the medical equipment provider’s stock worth $2,553,000 after buying an additional 79 shares during the last quarter. Sentry Investment Management LLC grew 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 worth $25,000 after acquiring an additional 79 shares in the last quarter. Rothschild Investment LLC grew its position in shares of Align Technology by 140.3% in 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 in the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in shares of Align Technology by 0.3% in the 2nd quarter. Royal London Asset Management Ltd. now owns 31,629 shares of the medical equipment provider’s stock valued at $5,988,000 after acquiring an additional 93 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Robert W. Baird set a $218.00 price objective on Align Technology in a research note on Thursday, February 5th. Piper Sandler raised their price target on shares of Align Technology from $200.00 to $220.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Evercore lifted their price target on shares of Align Technology from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Morgan Stanley increased their price objective on shares of Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. Finally, Mizuho raised their target price on shares of Align Technology from $200.00 to $215.00 and gave the stock an “outperform” 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $198.08.

Align Technology Trading Down 0.9%

Shares of NASDAQ ALGN opened at $174.00 on Friday. The stock has a 50 day simple moving average of $174.64 and a 200-day simple moving average of $152.34. The company has a market cap of $12.40 billion, a PE ratio of 30.74, a P/E/G ratio of 1.91 and a beta of 1.79. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $208.30.

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

Insider Activity

In other news, EVP John Morici sold 7,969 shares of the stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total value of $1,508,611.39. Following the completion of the transaction, the executive vice president owned 8,237 shares of the company’s stock, valued at approximately $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 SEC, which can be accessed through this link. Insiders own 0.66% of the company’s stock.

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.