Knowledge Leaders Capital LLC increased its stake in Align Technology, Inc. (NASDAQ: ALGN – Get Rating ) by 43.2% in the third quarter, Knowledge Leaders Capital LLC said in a recent SEC filing. %. The fund owns 3,978 shares of the medical equipment supplier after acquiring an additional 1,200 shares during the period. Align Technology accounts for about 1.1% of Knowledge Leaders Capital LLC’s portfolio, making the stock its 24th largest holding. Knowledge Leaders Capital LLC’s holding in Align Technology was valued at $824,000 at the end of the most recent reporting period.
Many other institutional investors and hedge funds have also recently increased or decreased their stake in ALGN. Landscape Capital Management LLC purchased a new stake in Align Technology in the third quarter, valued at approximately $486,000. Rockefeller Capital Management LP increased its stake in Align Technology by 4.1% in the third quarter. Rockefeller Capital Management LP now owns 2,932 shares of the medical equipment supplier worth $606,000 after buying an additional 115 shares last quarter. Daiwa Securities Group Inc. increased its stake in Align Technology by 2.6 percent in the third quarter. Daiwa Securities Group Inc. now owns 9,702 shares of the medical equipment supplier, worth $2,009,000, after buying an additional 246 shares last quarter. Clear Street Markets LLC acquired a new stake in Align Technology in the third quarter, valued at approximately $62,000. Finally, MONECO Advisors LLC increased its stake in Align Technology by 11.1% during the third quarter. MONECO Advisors LLC now owns 2,020 shares of the medical equipment supplier worth $418,000 after acquiring an additional 201 shares last quarter. 84.90% of the shares are currently held by hedge funds and other institutional investors.
Analyst Promotions and Demotions
ALGN has been the subject of many recent analyst reports. Stifel Nicolaus cut their price target on Align Technology from $325.00 to $265.00 in a report on Thursday, October 27th. Morgan Stanley cut their price target on Align Technology from $402.00 to $314.00 and set an “overweight” rating on the stock in a research report on Thursday, October 27th. StockNews.com began coverage on Align Technology in a research report on Wednesday, October 12th. They set a “hold” rating on the company. Robert W. Baird cut their price target on shares of Align Technology from $310.00 to $260.00 in a report on Thursday, October 27th. Finally, Piper Sandler upped their price target on Align Technology from $230.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, January 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Moderate Buy” and a consensus price target of $300.78, according to MarketBeat.com.
In other Align Technology news, CEO Joseph M. Hogan acquired 10,600 shares in trading on Wednesday, November 2. The stock was purchased at an average price of $188.58 per share for a total transaction value of $1,998,948.00. Following the acquisition, the CEO now directly owns 185,401 shares of the company, worth $34,962,920.58. The acquisition was disclosed in a filing with the SEC, which is available on the SEC website. In other Align Technology news, CEO Joseph M. Hogan purchased 10,600 shares of Align Technology stock in a trade dated Wednesday, November 2nd. The stock was purchased at an average cost of $188.58 per share for a total transaction value of $1,998,948.00. Following the acquisition, the CEO now owns 185,401 shares of the company, worth approximately $34,962,920.58. The purchase was disclosed in a legal filing with the U.S. Securities and Exchange Commission, which is available via this hyperlink. Additionally, director Warren S. Thaler purchased 1,050 shares of the company in a transaction dated Wednesday, November 2nd. These shares were purchased at an average cost of $191.21 per share for a total value of $200,770.50. Following the closing of the transaction, the director now directly owns 30,666 shares of the company, valued at approximately $5,863,645.86. The disclosure for this purchase can be found here. Insiders own 0.64% of the company.
Align Technology stock rose 2.9%
Shares of Nasdaq ALGN rose $7.08 to $253.12 in Wednesday’s trading. 6,651 shares were exchanged against an average volume of 934,951 shares. The company’s 50-day moving average is $205.39 and its 200-day moving average is $228.69. The company’s market value is US$19.77 billion, with a price-earnings ratio of 38.03, a price-earnings ratio of 29.54, and a beta coefficient of 1.59. Align Technology, Inc. had a twelve-month low of $172.05 and a twelve-month high of $552.00.
Align Technology (NASDAQ: ALGN – Rated ) last reported quarterly earnings data on Wednesday, October 26th. The medical equipment supplier reported earnings of $0.98 per share for the quarter, missing analysts’ consensus estimate of $1.93 ($0.95). The company’s revenue for the quarter came in at $890.35 million, compared with analyst estimates of $973.0 million. Align Technology has a return on equity of 14.39% and a net profit margin of 13.22%. Quarterly revenue from the business fell 12.4% compared to the same period last year. In the same quarter last year, the company earned $2.28 per share. Taken as a whole, sell-side analysts expect Align Technology, Inc. to post EPS of 5.8 for the fiscal year.
Alignment Technology Profiles
Align Technology, Inc is a medical device company that designs, manufactures and sells Invisalign clear aligners and the iTero intraoral scanner, and provides services to orthodontists and general practitioners, as well as restorative and cosmetic dentistry. It is divided into two parts, Clear Aligner; Scanner and Services.
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