Cwm LLC Raises Stake in Align Technology, Inc. $ALGN

Key Points

• Cwm LLC boosted its stake 419.7% in the fourth quarter to 103,817 shares of Align Technology, valued at $16.21 million, while institutional investors collectively own about 88.43% of the company.
• Align beat quarterly expectations with EPS of $3.29 (vs. $2.99 est.) and revenue of $1.05 billion (+5.3% YoY); several brokers raised price targets and the consensus rating is a "Moderate Buy" with a $201.31 target.
• Market snapshot: ALGN trades near $190, has a market cap of $13.61 billion, a PE ratio of 33.58, and a 12‑month range of $122.00–$208.30.

Cwm LLC boosted its stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 419.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 103,817 shares of the medical equipment provider's stock after buying an additional 83,842 shares during the period. Cwm LLC owned approximately 0.14% of Align Technology worth $16,211,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALGN. Capital International Investors increased its position in Align Technology by 88.6% during the 3rd quarter. Capital International Investors now owns 3,050,373 shares of the medical equipment provider's stock valued at $381,968,000 after buying an additional 1,433,393 shares in the last quarter. Holocene Advisors LP bought a new position in Align Technology during the 3rd quarter valued at approximately $179,035,000. Bank of America Corp DE grew its position in Align Technology by 72.0% during the 3rd quarter. Bank of America Corp DE now owns 1,353,125 shares of the medical equipment provider's stock valued at $169,438,000 after purchasing an additional 566,488 shares during the last quarter. Invesco Ltd. grew 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 last quarter. Finally, Ninety One UK Ltd grew 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 last quarter. Institutional investors own 88.43% of the company's stock.

Align Technology Trading Up 2.7%

NASDAQ:ALGN opened at $190.07 on Friday. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $208.30. The company has a market cap of $13.61 billion, a PE ratio of 33.58, a price-to-earnings-growth ratio of 2.02 and a beta of 1.81. The company has a 50 day simple moving average of $179.65 and a two-hundred day simple moving average of $160.68.

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

Insider Activity

In other Align Technology 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 transaction of $1,508,611.39. Following the completion of the sale, the executive vice president directly owned 8,237 shares in the company, valued at $1,559,346.47. The trade was a 49.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ALGN. Leerink Partners increased their price objective on shares of Align Technology from $210.00 to $225.00 and gave the company an "outperform" rating in a research report on Thursday, February 5th. Weiss Ratings reissued a "hold (c-)" rating on shares of Align Technology in a research report on Wednesday. Jefferies Financial Group increased their price objective on shares of Align Technology from $155.00 to $185.00 and gave the company a "hold" rating in a research report on Thursday, February 5th. Mizuho upped their price objective on Align Technology from $200.00 to $215.00 and gave the company an "outperform" rating in a research report on Thursday, February 5th. Finally, Stifel Nicolaus upped their price objective on Align Technology from $200.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, February 5th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $201.31.

Align Technology 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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