London & Capital Asset Management Ltd Has $15.90 Million Stock Position in Align Technology, Inc. (NASDAQ:ALGN)

London & Capital Asset Management Ltd lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 7.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,025 shares of the medical equipment provider's stock after acquiring an additional 3,843 shares during the period. London & Capital Asset Management Ltd owned approximately 0.08% of Align Technology worth $15,899,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ALGN. Raymond James Trust N.A. grew its position in shares of Align Technology by 39.4% during the 1st quarter. Raymond James Trust N.A. now owns 934 shares of the medical equipment provider's stock valued at $407,000 after acquiring an additional 264 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Align Technology by 11.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 180,978 shares of the medical equipment provider's stock valued at $78,911,000 after buying an additional 18,153 shares in the last quarter. Prudential PLC purchased a new position in shares of Align Technology during the 1st quarter valued at $955,000. Cetera Investment Advisers lifted its stake in shares of Align Technology by 4.9% during the 1st quarter. Cetera Investment Advisers now owns 1,713 shares of the medical equipment provider's stock valued at $747,000 after buying an additional 80 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in shares of Align Technology by 17.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 526 shares of the medical equipment provider's stock valued at $229,000 after buying an additional 77 shares in the last quarter. Institutional investors own 88.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on ALGN shares. Piper Sandler boosted their price target 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. Leerink Partnrs restated a "market perform" rating on shares of Align Technology in a research note on Monday, February 26th. SVB Leerink initiated coverage on shares of Align Technology in a research note on Monday, February 26th. They issued a "market perform" rating and a $310.00 target price on the stock. UBS Group upped their price target on shares of Align Technology from $280.00 to $320.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Stifel Nicolaus upped their price target on shares of Align Technology from $340.00 to $350.00 and gave the stock a "buy" rating in a research report on Friday, March 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Align Technology has an average rating of "Moderate Buy" and a consensus price target of $339.91.

Align Technology Price Performance

Shares of ALGN stock traded down $10.23 during mid-day trading on Monday, hitting $304.74. The stock had a trading volume of 549,856 shares, compared to its average volume of 759,463. Align Technology, Inc. has a fifty-two week low of $176.34 and a fifty-two week high of $413.20. The firm has a market cap of $22.93 billion, a PE ratio of 53.51, a PEG ratio of 5.67 and a beta of 1.65. The company's 50-day simple moving average is $311.38 and its 200-day simple moving average is $269.77.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.13. The business had revenue of $956.73 million during the quarter, compared to the consensus estimate of $928.57 million. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. On average, analysts expect that Align Technology, Inc. will post 7.65 EPS for the current year.

Insider Activity

In other Align Technology news, EVP Emory Wright sold 2,524 shares of the firm's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Align Technology news, EVP Emory Wright sold 2,524 shares of the firm's stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $287.45, for a total transaction of $725,523.80. Following the sale, the executive vice president now directly owns 709 shares of the company's stock, valued at approximately $203,802.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Lacob sold 15,000 shares of the firm's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $303.22, for a total transaction of $4,548,300.00. Following the sale, the director now directly owns 131,994 shares in the company, valued at $40,023,220.68. The disclosure for this sale can be found here. Insiders sold 27,524 shares of company stock worth $8,403,924 in the last 90 days. 0.72% of the stock is currently owned by corporate insiders.

Align Technology Company 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.