EFG Asset Management Americas Corp. Purchases 41 Shares of Align Technology, Inc. (NASDAQ:ALGN)

EFG Asset Management Americas Corp. grew its position in Align Technology, Inc. (NASDAQ:ALGN) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,167 shares of the medical equipment provider’s stock after acquiring an additional 41 shares during the period. EFG Asset Management Americas Corp.’s holdings in Align Technology were worth $320,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. KB Financial Partners LLC bought a new position in shares of Align Technology in the 1st quarter valued at about $26,000. Cornerstone Planning Group LLC bought a new stake in shares of Align Technology during the 2nd quarter worth about $29,000. First Manhattan CO. LLC. boosted its holdings in shares of Align Technology by 593.8% during the 1st quarter. First Manhattan CO. LLC. now owns 111 shares of the medical equipment provider’s stock worth $37,000 after buying an additional 95 shares during the period. Huntington National Bank boosted its holdings in shares of Align Technology by 94.9% during the 3rd quarter. Huntington National Bank now owns 115 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 56 shares during the period. Finally, Compagnie Lombard Odier SCmA bought a new stake in shares of Align Technology during the 3rd quarter worth about $61,000. Institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a report on Monday, February 26th. The Goldman Sachs Group lifted their target price on shares of Align Technology from $197.00 to $225.00 and gave the stock a “sell” rating in a report on Friday, February 2nd. UBS Group lifted their target price on shares of Align Technology from $280.00 to $320.00 and gave the stock a “neutral” rating in a report on Monday, April 15th. Piper Sandler lifted their price objective on shares of Align Technology from $335.00 to $355.00 and gave the stock an “overweight” rating in a research note on Thursday, March 14th. Finally, Stifel Nicolaus lifted their price objective on shares of Align Technology from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $344.45.

Insider Activity

In other news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Emory Wright sold 2,524 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total value of $725,523.80. Following the completion of the transaction, the executive vice president now directly owns 709 shares in the company, valued at approximately $203,802.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Lacob sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $313.01, for a total transaction of $3,130,100.00. Following the transaction, the director now owns 146,994 shares of the company’s stock, valued at $46,010,591.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,524 shares of company stock worth $8,403,924. 0.72% of the stock is currently owned by corporate insiders.

Align Technology Trading Down 0.8 %

Shares of NASDAQ:ALGN opened at $298.98 on Monday. The firm has a 50 day moving average of $312.79 and a 200-day moving average of $269.88. The stock has a market capitalization of $22.50 billion, a PE ratio of 51.37, a PEG ratio of 5.35 and a beta of 1.65. Align Technology, Inc. has a 12 month low of $176.34 and a 12 month high of $413.20.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 EPS for the quarter, beating the consensus estimate of $1.78 by $0.13. The company had revenue of $956.73 million during the quarter, compared to analysts’ expectations of $928.57 million. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. On average, research analysts predict that Align Technology, Inc. will post 7.69 EPS for the current fiscal 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.