Braidwell LP Has $51.30 Million Stock Position in Align Technology, Inc. $ALGN

Braidwell LP lowered its stake in Align Technology, Inc. (NASDAQ:ALGN) by 17.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 409,691 shares of the medical equipment provider’s stock after selling 87,039 shares during the quarter. Align Technology comprises approximately 1.5% of Braidwell LP’s investment portfolio, making the stock its 23rd biggest holding. Braidwell LP owned 0.57% of Align Technology worth $51,302,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Align Technology by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock worth $1,624,000 after acquiring an additional 469 shares in the last quarter. Focus Partners Wealth lifted its position in Align Technology by 5.2% in the 1st quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock valued at $486,000 after acquiring an additional 151 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Align Technology in the 2nd quarter worth $204,000. Los Angeles Capital Management LLC acquired a new position in Align Technology in the 2nd quarter worth $282,000. Finally, ProShare Advisors LLC increased its holdings in Align Technology by 9.3% during the 2nd quarter. ProShare Advisors LLC now owns 12,151 shares of the medical equipment provider’s stock worth $2,301,000 after purchasing an additional 1,033 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Insider Buying and Selling 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 shares were 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. The trade was a 49.17% decrease in their position. The transaction 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 corporate insiders.

Align Technology Trading Down 1.6%

NASDAQ:ALGN opened at $164.23 on Friday. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30. The firm has a fifty day simple moving average of $175.96 and a 200 day simple moving average of $153.25. The stock has a market capitalization of $11.71 billion, a PE ratio of 29.02, a P/E/G ratio of 1.79 and a beta of 1.79.

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 company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.44 earnings per share. On average, equities analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Jefferies Financial Group boosted their price target on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a report on Thursday, February 5th. Stifel Nicolaus increased their price objective on Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Evercore lifted their target price on Align Technology from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Weiss Ratings upgraded Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, January 16th. Finally, Wells Fargo & Company raised their price target on shares of Align Technology from $181.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $198.08.

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.