Certuity LLC Purchases 249 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Certuity LLC raised its position in Align Technology, Inc. (NASDAQ:ALGN) by 19.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,547 shares of the medical equipment provider’s stock after purchasing an additional 249 shares during the period. Certuity LLC’s holdings in Align Technology were worth $424,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Rhenman & Partners Asset Management AB bought a new position in shares of Align Technology in the third quarter worth $305,000. Ameriprise Financial Inc. lifted its stake in Align Technology by 348.9% during the third quarter. Ameriprise Financial Inc. now owns 756,393 shares of the medical equipment provider’s stock worth $230,938,000 after purchasing an additional 587,886 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Align Technology by 15.4% in the 3rd quarter. Invesco Ltd. now owns 960,271 shares of the medical equipment provider’s stock valued at $293,190,000 after purchasing an additional 128,273 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Align Technology in the 3rd quarter valued at $35,499,000. Finally, DAVENPORT & Co LLC raised its holdings in shares of Align Technology by 5,179.5% during the 4th quarter. DAVENPORT & Co LLC now owns 114,671 shares of the medical equipment provider’s stock worth $31,576,000 after buying an additional 112,499 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of ALGN opened at $284.52 on Thursday. The business has a 50-day moving average of $312.28 and a 200-day moving average of $271.29. The company has a market capitalization of $21.41 billion, a price-to-earnings ratio of 46.87, a price-to-earnings-growth ratio of 5.65 and a beta of 1.65. Align Technology, Inc. has a 1 year low of $176.34 and a 1 year 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 EPS for the quarter, beating analysts’ consensus estimates of $1.78 by $0.13. The company had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. Align Technology had a net margin of 11.80% and a return on equity of 14.15%. As a group, sell-side analysts anticipate that Align Technology, Inc. will post 7.85 EPS for the current year.

Insiders Place Their Bets

In other news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $287.45, for a total value of $725,523.80. Following the transaction, the executive vice president now directly owns 709 shares of the company’s stock, valued at approximately $203,802.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Emory Wright sold 2,524 shares of Align Technology stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the sale, the executive vice president now owns 709 shares in the company, valued at approximately $203,802.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Lacob sold 15,000 shares of the stock in a transaction on 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 transaction, the director now directly owns 131,994 shares in the company, valued at $40,023,220.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,524 shares of company stock worth $8,403,924. Company insiders own 0.62% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. UBS Group lifted their target price on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research report on Monday, April 15th. SVB Leerink began coverage on shares of Align Technology in a report on Monday, February 26th. They set a “market perform” rating and a $310.00 price target on the stock. Piper Sandler reissued an “overweight” rating and issued a $375.00 price objective (up previously from $355.00) on shares of Align Technology in a research note on Thursday, April 25th. Robert W. Baird boosted their target price on shares of Align Technology from $333.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group increased their price target on Align Technology from $197.00 to $225.00 and gave the company a “sell” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $353.00.

About Align Technology

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.