Align Technology, Inc. (NASDAQ:ALGN) Shares Bought by abrdn plc

abrdn plc grew its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 25.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 38,134 shares of the medical equipment provider’s stock after acquiring an additional 7,665 shares during the quarter. abrdn plc’s holdings in Align Technology were worth $10,449,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Deepwater Asset Management LLC boosted its holdings in shares of Align Technology by 46.8% during the fourth quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock valued at $13,421,000 after acquiring an additional 15,608 shares during the period. London & Capital Asset Management Ltd boosted its holdings in shares of Align Technology by 7.1% during the fourth quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider’s stock valued at $15,899,000 after acquiring an additional 3,843 shares during the period. Morgan Stanley boosted its holdings in shares of Align Technology by 9.8% during the third quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock valued at $310,866,000 after acquiring an additional 90,581 shares during the period. Country Trust Bank lifted its holdings in Align Technology by 27.7% in the fourth quarter. Country Trust Bank now owns 80,830 shares of the medical equipment provider’s stock worth $22,147,000 after purchasing an additional 17,515 shares during the period. Finally, Factory Mutual Insurance Co. lifted its holdings in Align Technology by 26.3% in the fourth quarter. Factory Mutual Insurance Co. now owns 143,293 shares of the medical equipment provider’s stock worth $39,262,000 after purchasing an additional 29,800 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Trading Down 1.0 %

Shares of Align Technology stock opened at $310.50 on Friday. The company’s 50-day moving average price is $313.38 and its two-hundred day moving average price is $270.80. The stock has a market cap of $23.37 billion, a PE ratio of 53.35, a price-to-earnings-growth ratio of 5.59 and a beta of 1.65. Align Technology, Inc. has a 52 week low of $176.34 and a 52 week high of $413.20.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.13. The firm had revenue of $956.73 million for the quarter, compared to the consensus estimate of $928.57 million. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. On average, equities analysts predict that Align Technology, Inc. will post 7.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Align Technology news, Director Joseph Lacob sold 15,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the sale, the director now owns 131,994 shares in the company, valued at approximately $40,023,220.68. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Align Technology news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total transaction of $725,523.80. Following the transaction, the executive vice president now owns 709 shares of the company’s stock, valued at approximately $203,802.05. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph Lacob sold 15,000 shares of Align Technology stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the transaction, the director now directly owns 131,994 shares in the company, valued at approximately $40,023,220.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,524 shares of company stock worth $8,403,924. Company insiders own 0.64% of the company’s stock.

Analyst Ratings Changes

ALGN has been the subject of several research analyst reports. Stifel Nicolaus upped their price objective on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Robert W. Baird upped their price objective on shares of Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday. UBS Group upped their price objective on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Piper Sandler reaffirmed an “overweight” rating and issued a $375.00 price objective (up previously from $355.00) on shares of Align Technology in a report on Thursday. Finally, The Goldman Sachs Group upped their price objective on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $341.36.

Align Technology Company 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.