Holocene Advisors LP Takes Position in Align Technology, Inc. $ALGN

Holocene Advisors LP purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,429,761 shares of the medical equipment provider’s stock, valued at approximately $179,035,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALGN. Gotham Asset Management LLC raised its position in Align Technology by 107.8% during the third quarter. Gotham Asset Management LLC now owns 125,231 shares of the medical equipment provider’s stock worth $15,681,000 after acquiring an additional 64,980 shares during the period. Focus Partners Wealth grew its position in shares of Align Technology by 15.1% in the third quarter. Focus Partners Wealth now owns 4,921 shares of the medical equipment provider’s stock valued at $621,000 after purchasing an additional 647 shares during the period. Distillate Capital Partners LLC increased its stake in shares of Align Technology by 74.6% during the third quarter. Distillate Capital Partners LLC now owns 111,224 shares of the medical equipment provider’s stock worth $13,928,000 after purchasing an additional 47,535 shares in the last quarter. Ceeto Capital Group LLC increased its stake in shares of Align Technology by 45.0% during the third quarter. Ceeto Capital Group LLC now owns 5,800 shares of the medical equipment provider’s stock worth $726,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Cinctive Capital Management LP raised its position in shares of Align Technology by 68.7% during the 3rd quarter. Cinctive Capital Management LP now owns 5,660 shares of the medical equipment provider’s stock worth $709,000 after purchasing an additional 2,305 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

ALGN opened at $164.23 on Monday. The company’s 50 day simple moving average is $175.96 and its two-hundred day simple moving average is $153.33. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30. The firm has a market capitalization of $11.71 billion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 1.79 and a beta of 1.79.

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

Analyst Upgrades and Downgrades

ALGN has been the topic of several research analyst reports. Morgan Stanley lifted their price objective on Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a report on Thursday, February 5th. Wall Street Zen raised Align Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 7th. Wells Fargo & Company lifted their price target on Align Technology from $181.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Barclays boosted their price target on Align Technology from $170.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 25th. Finally, Mizuho increased their price objective on Align Technology from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $198.08.

Insiders Place Their Bets

In other Align Technology news, EVP John Morici sold 7,969 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was 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 directly owned 8,237 shares in the company, valued at $1,559,346.47. This represents a 49.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.66% of the company’s stock.

Align Technology 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.