Andrew Hill Investment Advisors Inc. Takes $717,000 Position in Align Technology, Inc. (NASDAQ:ALGN)

Andrew Hill Investment Advisors Inc. purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 2,618 shares of the medical equipment provider’s stock, valued at approximately $717,000.

Other hedge funds also recently added to or reduced their stakes in the company. Deepwater Asset Management LLC boosted its holdings in shares of Align Technology by 46.8% in the fourth quarter. Deepwater Asset Management LLC now owns 48,981 shares of the medical equipment provider’s stock valued at $13,421,000 after acquiring an additional 15,608 shares in the last quarter. London & Capital Asset Management Ltd grew its stake in Align Technology by 7.1% in the 4th quarter. London & Capital Asset Management Ltd now owns 58,025 shares of the medical equipment provider’s stock valued at $15,899,000 after acquiring an additional 3,843 shares during the last quarter. Morgan Stanley increased its holdings in Align Technology by 9.8% during the 3rd quarter. Morgan Stanley now owns 1,018,161 shares of the medical equipment provider’s stock valued at $310,866,000 after acquiring an additional 90,581 shares in the last quarter. Country Trust Bank raised its position in Align Technology by 27.7% during the fourth quarter. Country Trust Bank now owns 80,830 shares of the medical equipment provider’s stock worth $22,147,000 after acquiring an additional 17,515 shares during the last quarter. Finally, Factory Mutual Insurance Co. lifted its holdings in shares of Align Technology by 26.3% in the fourth quarter. Factory Mutual Insurance Co. now owns 143,293 shares of the medical equipment provider’s stock valued at $39,262,000 after purchasing an additional 29,800 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Align Technology

In other Align Technology news, Director Joseph Lacob sold 10,000 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $313.01, for a total value of $3,130,100.00. Following the transaction, the director now owns 146,994 shares in the company, valued at approximately $46,010,591.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related 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 completion of the sale, the executive vice president now directly owns 709 shares of the company’s stock, valued at $203,802.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Joseph Lacob sold 10,000 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total value of $3,130,100.00. Following the transaction, the director now directly owns 146,994 shares in the company, valued at approximately $46,010,591.94. The disclosure for this sale can be found here. In the last three months, insiders sold 27,524 shares of company stock valued at $8,403,924. Corporate insiders own 0.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. UBS Group upped their target price on Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday. Stifel Nicolaus lifted their price objective on Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday. The Goldman Sachs Group increased their target price on Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a research report on Friday, February 2nd. SVB Leerink initiated coverage on Align Technology in a report on Monday, February 26th. They issued a “market perform” rating and a $310.00 price target for the company. Finally, Piper Sandler increased their price objective on shares of Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Align Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $344.45.

Align Technology Trading Down 0.6 %

NASDAQ:ALGN traded down $1.92 during mid-day trading on Friday, hitting $299.42. The company had a trading volume of 135,383 shares, compared to its average volume of 740,771. The business has a fifty day simple moving average of $312.73 and a 200-day simple moving average of $270.18. The firm has a market capitalization of $22.53 billion, a price-to-earnings ratio of 51.58, a PEG ratio of 5.37 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 released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, topping the consensus estimate of $1.78 by $0.13. Align Technology had a return on equity of 13.88% and a net margin of 11.52%. The firm had revenue of $956.73 million for the quarter, compared to analyst estimates of $928.57 million. As a group, research analysts anticipate that Align Technology, Inc. will post 7.69 earnings per share for the current year.

Align Technology Profile

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.