North Growth Management Ltd. Increases Stake in Align Technology, Inc. $ALGN

North Growth Management Ltd. lifted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 36.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 45,000 shares of the medical equipment provider’s stock after buying an additional 12,000 shares during the quarter. North Growth Management Ltd.’s holdings in Align Technology were worth $5,621,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Rothschild Investment LLC raised its holdings in shares of Align Technology by 140.3% during the 2nd quarter. Rothschild Investment LLC now owns 149 shares of the medical equipment provider’s stock worth $28,000 after acquiring an additional 87 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Align Technology by 7,650.0% in the 2nd quarter. True Wealth Design LLC now owns 155 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 153 shares during the last quarter. Cromwell Holdings LLC raised its position in shares of Align Technology by 2,900.0% during the 2nd quarter. Cromwell Holdings LLC now owns 180 shares of the medical equipment provider’s stock valued at $34,000 after buying an additional 174 shares in the last quarter. CYBER HORNET ETFs LLC bought a new position in shares of Align Technology in the 2nd quarter valued at about $36,000. Finally, MUFG Securities EMEA plc purchased a new position in Align Technology in the second quarter worth about $38,000. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Price Performance

Align Technology stock opened at $156.03 on Friday. The stock has a market cap of $11.20 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 1.76 and a beta of 1.83. The firm has a 50-day moving average of $148.38 and a two-hundred day moving average of $152.55. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $237.23.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 EPS for the quarter, topping analysts’ consensus estimates of $2.38 by $0.23. The business had revenue of $995.69 million for the quarter, compared to analyst estimates of $980.75 million. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company posted $2.35 earnings per share. Research analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ALGN shares. UBS Group dropped their target price on Align Technology from $160.00 to $155.00 and set a “neutral” rating for the company in a report on Thursday, October 16th. Piper Sandler reiterated an “overweight” rating and set a $200.00 price objective (up previously from $190.00) on shares of Align Technology in a research report on Thursday, October 30th. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. Stifel Nicolaus set a $200.00 price objective on shares of Align Technology in a research report on Thursday, October 30th. Finally, Evercore ISI decreased their price objective on shares of Align Technology from $220.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $172.18.

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.