SG Americas Securities LLC Increases Stake in Align Technology, Inc. $ALGN

SG Americas Securities LLC boosted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 183.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 138,489 shares of the medical equipment provider’s stock after buying an additional 89,628 shares during the quarter. SG Americas Securities LLC owned 0.19% of Align Technology worth $21,625,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Align Technology by 0.7% during the third quarter. Vanguard Group Inc. now owns 8,301,611 shares of the medical equipment provider’s stock worth $1,039,528,000 after acquiring an additional 58,546 shares during the period. Capital International Investors boosted its holdings in Align Technology by 88.6% in the third quarter. Capital International Investors now owns 3,050,373 shares of the medical equipment provider’s stock valued at $381,968,000 after purchasing an additional 1,433,393 shares during the period. Ninety One UK Ltd boosted its holdings in Align Technology by 18.3% in the third quarter. Ninety One UK Ltd now owns 2,267,192 shares of the medical equipment provider’s stock valued at $283,898,000 after purchasing an additional 350,883 shares during the period. Invesco Ltd. grew its stake in Align Technology by 37.4% during the 3rd quarter. Invesco Ltd. now owns 1,497,535 shares of the medical equipment provider’s stock worth $187,521,000 after purchasing an additional 407,559 shares in the last quarter. Finally, Holocene Advisors LP acquired a new position in Align Technology during the 3rd quarter worth $179,035,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Insider Buying and Selling

In other Align Technology news, EVP John Morici sold 7,969 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president owned 8,237 shares of the company’s stock, valued at approximately $1,559,346.47. This trade represents a 49.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is owned by corporate insiders.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $166.38 on Friday. The business has a 50-day moving average of $177.15 and a two-hundred day moving average of $155.69. The company has a market capitalization of $11.86 billion, a price-to-earnings ratio of 29.40, a price-to-earnings-growth ratio of 1.93 and a beta of 1.79. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $208.30.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 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 for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the business posted $2.44 EPS. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities research analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALGN. Evercore increased their price target on Align Technology from $180.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, February 5th. Barclays raised Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 price objective for the company in a research report on Tuesday, March 17th. Piper Sandler upped their target price on shares of Align Technology from $200.00 to $220.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Weiss Ratings raised shares of Align Technology from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, January 16th. Finally, Stifel Nicolaus lifted their price target on shares of Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.08.

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.