OFI Invest Asset Management Purchases New Shares in Align Technology, Inc. $ALGN

OFI Invest Asset Management purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 84,306 shares of the medical equipment provider’s stock, valued at approximately $13,164,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Sentry Investment Management LLC grew its stake in shares of Align Technology by 73.1% in the third quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in Align Technology during the third quarter worth about $26,000. Independence Bank of Kentucky lifted its position in Align Technology by 77.7% during the fourth quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 80 shares during the period. Quent Capital LLC bought a new stake in Align Technology during the third quarter worth about $30,000. Finally, TD Private Client Wealth LLC lifted its position in Align Technology by 135.6% during the third quarter. TD Private Client Wealth LLC now owns 238 shares of the medical equipment provider’s stock worth $30,000 after purchasing an additional 137 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ALGN shares. Weiss Ratings raised shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, January 16th. UBS Group upped their price objective on shares of Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Barclays raised shares of Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 price objective for the company in a research report on Tuesday, March 17th. Wells Fargo & Company upped their price objective on shares of Align Technology from $181.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Finally, Mizuho upped their price objective on shares of Align Technology from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Align Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.08.

Insider Transactions at Align Technology

In related news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were 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 in the company, valued at $1,559,346.47. This trade represents a 49.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $176.83 on Thursday. The company has a 50 day simple moving average of $177.61 and a 200 day simple moving average of $158.00. The firm has a market cap of $12.66 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 1.86 and a beta of 1.81. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $208.30.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.30. The business had revenue of $1.05 billion during 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% on a year-over-year basis. During the same quarter last year, the business earned $2.44 EPS. As a group, research analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

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.