Headlands Technologies LLC Invests $486,000 in Align Technology, Inc. (NASDAQ:ALGN)

Headlands Technologies LLC purchased a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,772 shares of the medical equipment provider’s stock, valued at approximately $486,000.

A number of other large investors have also modified their holdings of the business. Huntington National Bank boosted its position in Align Technology by 94.9% in the third quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock valued at $35,000 after buying an additional 56 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in Align Technology in the third quarter valued at approximately $61,000. Orion Capital Management LLC purchased a new stake in Align Technology in the third quarter valued at approximately $61,000. Operose Advisors LLC purchased a new stake in Align Technology in the third quarter valued at approximately $63,000. Finally, Covestor Ltd boosted its position in Align Technology by 379.5% in the third quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock valued at $64,000 after buying an additional 167 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Insider Activity

In other news, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the sale, the director now directly owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the sale, the director now directly owns 146,994 shares of the company’s stock, valued at approximately $46,010,591.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Emory Wright sold 2,524 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares in the company, valued at $203,802.05. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,524 shares of company stock valued at $8,403,924. Company insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ALGN. SVB Leerink began coverage on Align Technology in a research report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price objective on the stock. Robert W. Baird upped their price objective on Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday. Stifel Nicolaus upped their price objective on Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. UBS Group upped their price objective on Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a research report on Monday, April 15th. Finally, Leerink Partnrs restated a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Align Technology has a consensus rating of “Moderate Buy” and an average target price of $341.36.

Align Technology Stock Performance

Shares of NASDAQ ALGN traded down $1.48 during trading on Friday, hitting $309.02. 737,294 shares of the company were exchanged, compared to its average volume of 636,306. Align Technology, Inc. has a 12-month low of $176.34 and a 12-month high of $413.20. The company has a fifty day moving average price of $313.38 and a 200-day moving average price of $270.98. The firm has a market capitalization of $23.25 billion, a PE ratio of 50.91, a P/E/G ratio of 5.56 and a beta of 1.65.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.13. The company had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. Research analysts anticipate that Align Technology, Inc. will post 7.69 earnings per share for the current fiscal year.

Align Technology Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.