Landscape Capital Management L.L.C. Has $7.87 Million Stake in Align Technology, Inc. $ALGN

Landscape Capital Management L.L.C. raised its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 21.4% in the 3rd quarter, Holdings Channel reports. The firm owned 62,885 shares of the medical equipment provider’s stock after purchasing an additional 11,103 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Align Technology were worth $7,874,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised 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 last quarter. 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 acquiring an additional 1,433,393 shares during the last quarter. Ninety One UK Ltd increased its position in Align Technology by 18.3% during the 3rd 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. increased its position 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 valued at $187,521,000 after purchasing an additional 407,559 shares during the period. Finally, Capital World Investors raised its holdings in Align Technology by 1.5% during the 3rd quarter. Capital World Investors now owns 1,316,862 shares of the medical equipment provider’s stock worth $164,897,000 after purchasing an additional 19,952 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Insider Buying and Selling

In related news, EVP John Morici sold 7,969 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $1,559,346.47. The trade was a 49.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.66% of the stock is owned by insiders.

Align Technology Stock Performance

Shares of ALGN stock traded down $2.05 during trading hours on Friday, hitting $164.87. 151,302 shares of the company were exchanged, compared to its average volume of 1,201,757. The company has a 50 day simple moving average of $175.80 and a two-hundred day simple moving average of $153.04. The firm has a market cap of $11.75 billion, a P/E ratio of 29.10, a P/E/G ratio of 1.90 and a beta of 1.79. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $208.30.

Align Technology (NASDAQ:ALGN) last released its 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. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Align Technology had a net margin of 10.17% and a return on equity of 15.16%. Align Technology’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.44 EPS. As a group, sell-side analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ALGN shares. Robert W. Baird set a $218.00 price target on shares of Align Technology in a research report on Thursday, February 5th. Morgan Stanley increased their price objective on shares of Align Technology from $154.00 to $169.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 5th. Evercore boosted their target price on shares of Align Technology from $180.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Wall Street Zen raised shares of Align Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 7th. Finally, Jefferies Financial Group increased their price target on Align Technology from $155.00 to $185.00 and gave the stock a “hold” rating in a report on Thursday, February 5th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $198.08.

About Align Technology

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.