Riverbridge Partners LLC Sells 119,935 Shares of Align Technology, Inc. $ALGN

Riverbridge Partners LLC trimmed its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 62.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,297 shares of the medical equipment provider’s stock after selling 119,935 shares during the quarter. Riverbridge Partners LLC owned 0.10% of Align Technology worth $11,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Align Technology by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 8,301,611 shares of the medical equipment provider’s stock worth $1,039,528,000 after buying an additional 58,546 shares during the period. Capital International Investors grew its position in Align Technology by 88.6% in the third quarter. Capital International Investors now owns 3,050,373 shares of the medical equipment provider’s stock valued at $381,968,000 after acquiring an additional 1,433,393 shares during the period. Ninety One UK Ltd raised 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 acquiring an additional 350,883 shares in the last quarter. Invesco Ltd. raised its stake in Align Technology by 37.4% during the third quarter. Invesco Ltd. now owns 1,497,535 shares of the medical equipment provider’s stock worth $187,521,000 after acquiring an additional 407,559 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in shares of Align Technology during the third quarter valued at $179,035,000. 88.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Align Technology news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president owned 8,237 shares in the company, valued at approximately $1,559,346.47. This trade represents a 49.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Align Technology Stock Performance

Align Technology stock opened at $177.33 on Friday. The business’s fifty day moving average is $177.25 and its two-hundred day moving average is $155.48. The firm has a market cap of $12.64 billion, a P/E ratio of 31.33, a P/E/G ratio of 1.96 and a beta of 1.79. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $208.30.

Align Technology (NASDAQ:ALGN) last announced its earnings results 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 return on equity of 15.16% and a net margin of 10.17%.The company had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $2.44 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ALGN shares. Stifel Nicolaus boosted their target price on shares of Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Barclays upgraded shares of Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 target price for the company in a research report on Tuesday, March 17th. Mizuho boosted their price target on shares of Align Technology from $200.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. 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 note on Thursday, February 5th. Finally, Piper Sandler upped their price objective on shares of Align Technology from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $198.08.

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.