Polianta Ltd Buys Shares of 10,400 Align Technology, Inc. $ALGN

Polianta Ltd purchased a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 10,400 shares of the medical equipment provider’s stock, valued at approximately $1,623,000. Align Technology accounts for about 0.2% of Polianta Ltd’s portfolio, making the stock its 24th biggest position.

Several other institutional investors and hedge funds also recently modified their holdings of ALGN. Arizona State Retirement System lifted its holdings in Align Technology by 0.4% in the third quarter. Arizona State Retirement System now owns 20,387 shares of the medical equipment provider’s stock worth $2,553,000 after purchasing an additional 79 shares during the period. Sentry Investment Management LLC raised its position 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 buying an additional 79 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Align Technology by 3.3% in the 3rd quarter. Allworth Financial LP now owns 2,874 shares of the medical equipment provider’s stock worth $360,000 after acquiring an additional 92 shares during the period. Royal London Asset Management Ltd. boosted its holdings in shares of Align Technology by 0.3% in the second 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 in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Align Technology by 16.7% in the second quarter. Smartleaf Asset Management LLC now owns 726 shares of the medical equipment provider’s stock valued at $137,000 after acquiring an additional 104 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

ALGN stock opened at $166.26 on Tuesday. The firm has a market cap of $11.85 billion, a PE ratio of 29.37, a P/E/G ratio of 1.81 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. The firm has a 50 day simple moving average of $177.04 and a 200 day simple moving average of $156.20.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ALGN shares. Robert W. Baird set a $218.00 target price on Align Technology in a report on Thursday, February 5th. Weiss Ratings upgraded Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. Barclays raised Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 price objective on the stock in a research note on Tuesday, March 17th. Piper Sandler upped their price objective on Align Technology from $200.00 to $220.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Finally, UBS Group raised their target price on Align Technology from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $198.08.

Insider Activity

In other news, EVP John Morici sold 7,969 shares of the business’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 sale, the executive vice president directly owned 8,237 shares of the company’s stock, valued at $1,559,346.47. The trade was a 49.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is owned by insiders.

Align Technology Company 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.