Capital International Investors Grows Position in Align Technology, Inc. $ALGN

Capital International Investors grew its position in Align Technology, Inc. (NASDAQ:ALGN) by 88.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,050,373 shares of the medical equipment provider’s stock after purchasing an additional 1,433,393 shares during the period. Capital International Investors owned approximately 4.25% of Align Technology worth $381,968,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Align Technology by 0.7% in the third quarter. Vanguard Group Inc. now owns 8,301,611 shares of the medical equipment provider’s stock valued at $1,039,528,000 after buying an additional 58,546 shares during the period. Ninety One UK Ltd grew its stake in Align Technology by 18.3% during the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock worth $283,898,000 after buying an additional 350,883 shares during the period. Federated Hermes Inc. grew its stake in Align Technology by 31.0% during the second quarter. Federated Hermes Inc. now owns 926,733 shares of the medical equipment provider’s stock worth $175,458,000 after buying an additional 219,219 shares during the period. Disciplined Growth Investors Inc. MN increased its position in shares of Align Technology by 0.9% in the second quarter. Disciplined Growth Investors Inc. MN now owns 844,987 shares of the medical equipment provider’s stock worth $159,981,000 after acquiring an additional 7,754 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Align Technology in the second quarter worth $155,297,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Insider Buying and Selling

In related news, EVP John Morici sold 7,969 shares of the stock in a transaction dated 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Morgan Stanley lifted their target price on shares of Align Technology from $154.00 to $169.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Wells Fargo & Company boosted their price objective on Align Technology from $181.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Robert W. Baird set a $218.00 target price on Align Technology in a research report on Thursday, February 5th. Mizuho increased their target price on Align Technology from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Finally, Evercore raised their target price on Align Technology from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Align Technology has a consensus rating of “Hold” and a consensus target price of $198.08.

Align Technology Price Performance

Align Technology stock opened at $169.43 on Wednesday. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $208.30. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 1.91 and a beta of 1.79. The firm’s fifty day moving average price is $175.21 and its 200 day moving average price is $152.79.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data 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 company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company posted $2.44 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts forecast that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

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.