Skylands Capital LLC Has $3.19 Million Stock Holdings in Align Technology, Inc. $ALGN

Key Points

• Skylands Capital cut its stake in Align Technology by 57.7% in Q4, selling 27,800 shares and leaving it with 20,400 shares worth about $3.19 million.
• EVP John Morici sold 7,969 shares on Feb. 18 at an average price of $189.31 (≈$1.51 million), reducing his holding by 49.17%; corporate insiders own about 0.75% of the stock.
• Align beat Q4 expectations—EPS $3.29 vs. $2.99 and revenue $1.05 billion vs. $1.03 billion—and analysts maintain a “Moderate Buy” consensus with an average price target of about $203.92.

Skylands Capital LLC reduced its stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 57.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,400 shares of the medical equipment provider's stock after selling 27,800 shares during the period. Skylands Capital LLC's holdings in Align Technology were worth $3,185,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ALGN. Wealthfront Advisers LLC bought a new stake in Align Technology in the 4th quarter valued at about $248,000. M&T Bank Corp grew its stake in Align Technology by 6.9% in the fourth quarter. M&T Bank Corp now owns 6,377 shares of the medical equipment provider's stock valued at $996,000 after acquiring an additional 414 shares during the period. Comerica Bank grew its stake in Align Technology by 0.6% in the fourth quarter. Comerica Bank now owns 13,656 shares of the medical equipment provider's stock valued at $2,132,000 after acquiring an additional 76 shares during the period. D.A. Davidson & CO. bought a new stake in shares of Align Technology during the fourth quarter valued at approximately $312,000. Finally, High Point Wealth Management LLC acquired a new position in shares of Align Technology during the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 88.43% of the company's stock.

Insider Buying and Selling

In other Align Technology news, EVP John Morici sold 7,969 shares of the firm's stock in a transaction dated Wednesday, February 18th. The stock was 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 in the company, valued at $1,559,346.47. This trade represents a 49.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is currently owned by corporate insiders.

Align Technology Stock Down 2.6%

Align Technology stock opened at $184.70 on Tuesday. The firm has a 50 day moving average price of $179.74 and a 200-day moving average price of $163.45. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $208.30. The company has a market capitalization of $13.23 billion, a P/E ratio of 32.63, a P/E/G ratio of 2.06 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.99 by $0.30. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The business had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $1.03 billion. During the same period in the previous year, the business posted $2.44 EPS. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. Equities analysts expect that Align Technology, Inc. will post 9.15 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Mizuho raised their price objective on shares of Align Technology from $200.00 to $215.00 and gave the company an "outperform" rating in a research note on Thursday, February 5th. Jefferies Financial Group upped their target price on shares of Align Technology from $155.00 to $185.00 and gave the stock a "hold" rating in a report on Thursday, February 5th. UBS Group raised their price target on shares of Align Technology from $175.00 to $185.00 and gave the company a "neutral" rating in a research report on Thursday, February 5th. Evercore reiterated an "outperform" rating on shares of Align Technology in a research note on Wednesday, April 8th. Finally, Barclays raised Align Technology from an "equal weight" rating to an "overweight" rating and set a $200.00 price objective for the company in a report on Tuesday, March 17th. Eight equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $203.92.

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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