Align Technology, Inc. $ALGN Shares Acquired by Capital International Inc. CA

Key Points

• Capital International Inc. CA increased its stake in Align by 267.5% in Q3 to 45,135 shares (~$5.65M), while Capital International Investors now holds 3,050,373 shares (~$382M), leaving institutional investors with about 88.43% ownership of ALGN.
• Align beat quarterly estimates with EPS $3.29 vs $2.99 and revenue $1.05B vs $1.03B; the stock trades near $175 (market cap ~$12.46B) and analysts have a consensus "Hold" with an average price target of $198.
• EVP John Morici sold 7,969 shares at $189.31 (a 49.17% reduction in his holding), and company insiders collectively own just 0.66% of the stock.

Capital International Inc. CA lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 267.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 45,135 shares of the medical equipment provider's stock after purchasing an additional 32,853 shares during the quarter. Capital International Inc. CA owned about 0.06% of Align Technology worth $5,652,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital International Investors grew its stake in Align Technology by 88.6% during the third quarter. Capital International Investors now owns 3,050,373 shares of the medical equipment provider's stock worth $381,968,000 after buying an additional 1,433,393 shares during the period. Capital Group Investment Management PTE. LTD. raised its stake in shares of Align Technology by 91.4% in the 3rd quarter. Capital Group Investment Management PTE. LTD. now owns 9,909 shares of the medical equipment provider's stock valued at $1,241,000 after acquiring an additional 4,731 shares during the period. Legal & General Group Plc lifted its holdings in shares of Align Technology by 6.8% during the 3rd quarter. Legal & General Group Plc now owns 352,972 shares of the medical equipment provider's stock valued at $44,199,000 after acquiring an additional 22,360 shares in the last quarter. Clarkston Capital Partners LLC lifted its holdings in shares of Align Technology by 25.7% during the 3rd quarter. Clarkston Capital Partners LLC now owns 141,215 shares of the medical equipment provider's stock valued at $17,683,000 after acquiring an additional 28,850 shares in the last quarter. Finally, Fieldview Capital Management LLC purchased a new stake in Align Technology during the 3rd quarter worth $994,000. Institutional investors and hedge funds own 88.43% of the company's stock.

Align Technology Stock Up 3.2%

Shares of NASDAQ ALGN opened at $174.81 on Thursday. The stock's 50 day moving average price is $175.58 and its two-hundred day moving average price is $152.94. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $208.30. The stock has a market capitalization of $12.46 billion, a P/E ratio of 30.89, a PEG ratio of 1.85 and a beta of 1.79.

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

Insider Transactions at Align Technology

In other Align Technology news, EVP John Morici sold 7,969 shares of Align Technology stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total value of $1,508,611.39. Following the completion of the transaction, the executive vice president owned 8,237 shares of the company's stock, valued at $1,559,346.47. The trade was a 49.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. UBS Group increased their price target on Align Technology from $175.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, February 5th. Robert W. Baird set a $218.00 target price on Align Technology in a research report on Thursday, February 5th. Piper Sandler increased their target price on Align Technology from $200.00 to $220.00 and gave the company an "overweight" rating in a research note on Thursday, February 5th. Jefferies Financial Group raised their target price on Align Technology from $155.00 to $185.00 and gave the company a "hold" rating in a report on Thursday, February 5th. Finally, Mizuho boosted their price target on Align Technology from $200.00 to $215.00 and gave the stock an "outperform" rating in a research report on Thursday, February 5th. Six research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $198.08.

Align Technology Company 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.

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