Aberdeen Group plc Reduces Stock Holdings in Align Technology, Inc. $ALGN

Key Points

• Aberdeen Group plc cut its stake in Align Technology by 12.3% in Q4, selling 6,717 shares and ending with 47,732 shares worth about $7.45 million; institutional investors own roughly 88.43% of ALGN.
• EVP John Morici sold 7,969 shares on Feb. 18 at an average price of $189.31 (≈$1.51 million), reducing his holding by about 49%; corporate insiders now own 0.66% of the stock.
• Analysts have raised price targets and leave a consensus rating of "Moderate Buy" with an average target of $198.08 after Align beat Q earnings (EPS $3.29 vs. $2.99) and reported $1.05 billion in revenue; shares trade near $176.83 with a market cap of about $12.66 billion.

Aberdeen Group plc lowered its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 12.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,732 shares of the medical equipment provider's stock after selling 6,717 shares during the quarter. Aberdeen Group plc owned about 0.07% of Align Technology worth $7,453,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System increased its stake in shares of Align Technology by 0.4% during the third quarter. Arizona State Retirement System now owns 20,387 shares of the medical equipment provider's stock worth $2,553,000 after purchasing an additional 79 shares in the last quarter. Sentry Investment Management LLC lifted its holdings in shares of Align Technology by 73.1% in the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider's stock worth $25,000 after acquiring an additional 79 shares during the last quarter. Allworth Financial LP lifted its holdings in Align Technology by 3.3% during the 3rd quarter. Allworth Financial LP now owns 2,874 shares of the medical equipment provider's stock worth $360,000 after buying an additional 92 shares in the last quarter. Royal London Asset Management Ltd. increased its position in shares of Align Technology by 0.3% in the 2nd quarter. Royal London Asset Management Ltd. now owns 31,629 shares of the medical equipment provider's stock valued at $5,988,000 after purchasing an additional 93 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Align Technology by 16.7% in the 2nd quarter. Smartleaf Asset Management LLC now owns 726 shares of the medical equipment provider's stock valued at $137,000 after purchasing an additional 104 shares during the last quarter. Institutional investors own 88.43% of the company's stock.

Insider Activity

In related news, EVP John Morici sold 7,969 shares of the business's stock in a transaction that occurred on Wednesday, February 18th. The stock was sold at an average price of $189.31, for a total transaction of $1,508,611.39. Following the transaction, the executive vice president directly owned 8,237 shares of the company's stock, valued at approximately $1,559,346.47. The trade was a 49.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on ALGN shares. Leerink Partners raised their target price on shares of Align Technology from $210.00 to $225.00 and gave the stock an "outperform" rating in a research note on Thursday, February 5th. Morgan Stanley lifted their price target on shares of Align Technology from $154.00 to $169.00 and gave the stock an "equal weight" rating in a 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. UBS Group boosted their target price on shares of Align Technology from $175.00 to $185.00 and gave the stock a "neutral" rating in a research report on Thursday, February 5th. Finally, Robert W. Baird set a $218.00 price target on shares of Align Technology in a research note on Thursday, February 5th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, Align Technology has a consensus rating of "Moderate Buy" and an average target price of $198.08.

Align Technology Stock Performance

Shares of NASDAQ ALGN opened at $176.83 on Thursday. The business has a fifty day moving average of $177.61 and a two-hundred day moving average of $158.00. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $208.30. The stock has a market cap of $12.66 billion, a PE ratio of 31.24, a PEG ratio of 1.86 and a beta of 1.81.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 EPS for the quarter, topping analysts' consensus estimates of $2.99 by $0.30. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The company's revenue was up 5.3% on a year-over-year basis. During the same period last year, the company earned $2.44 earnings per share. Analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current year.

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.

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