Willis Investment Counsel Makes New $940,000 Investment in Align Technology, Inc. $ALGN

Willis Investment Counsel bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,023 shares of the medical equipment provider’s stock, valued at approximately $940,000.

Several other hedge funds have also recently bought and sold shares of the business. OFI Invest Asset Management acquired a new position in Align Technology during the fourth quarter worth $13,164,000. Greenleaf Trust acquired a new position in Align Technology during the fourth quarter worth $202,000. Modera Wealth Management LLC increased its position in Align Technology by 9.8% during the fourth quarter. Modera Wealth Management LLC now owns 14,394 shares of the medical equipment provider’s stock worth $2,248,000 after buying an additional 1,285 shares during the last quarter. Groesbeck Investment Management Corp NJ acquired a new position in Align Technology during the fourth quarter worth $78,000. Finally, Independence Bank of Kentucky increased 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 buying an additional 80 shares during the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Align Technology

In other Align Technology news, EVP John Morici sold 7,969 shares of the company’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 completion of the sale, the executive vice president directly owned 8,237 shares in the company, valued at $1,559,346.47. This represents a 49.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ALGN shares. Stifel Nicolaus increased their target price on shares of Align Technology from $200.00 to $210.00 and gave the stock a “buy” 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 target price on the stock in a research report on Tuesday, March 17th. 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. Evercore increased their target price on shares of Align Technology from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Finally, Robert W. Baird set a $218.00 price target on shares of Align Technology in a report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Align Technology has a consensus rating of “Moderate Buy” and an average price target of $198.08.

Align Technology Price Performance

ALGN stock opened at $176.83 on Thursday. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $208.30. The company has a 50-day moving average of $177.61 and a two-hundred day moving average of $158.00. The stock has a market capitalization of $12.66 billion, a price-to-earnings ratio of 31.24, a price-to-earnings-growth ratio of 1.86 and a beta of 1.81.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings results 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. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company earned $2.44 earnings per share. The business’s quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

About Align Technology

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.