Hussman Strategic Advisors Inc. Acquires 12,600 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Hussman Strategic Advisors Inc. raised its position in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 600.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,700 shares of the medical equipment provider's stock after buying an additional 12,600 shares during the period. Align Technology accounts for about 0.9% of Hussman Strategic Advisors Inc.'s investment portfolio, making the stock its 20th biggest position. Hussman Strategic Advisors Inc.'s holdings in Align Technology were worth $4,028,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY lifted its position in shares of Align Technology by 0.7% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 4,202 shares of the medical equipment provider's stock worth $886,000 after purchasing an additional 31 shares in the last quarter. Dfpg Investments LLC lifted its position in shares of Align Technology by 3.3% during the fourth quarter. Dfpg Investments LLC now owns 1,327 shares of the medical equipment provider's stock worth $340,000 after purchasing an additional 42 shares in the last quarter. EFG Asset Management Americas Corp. lifted its position in shares of Align Technology by 3.8% during the second quarter. EFG Asset Management Americas Corp. now owns 1,174 shares of the medical equipment provider's stock worth $415,000 after purchasing an additional 43 shares in the last quarter. Flagship Harbor Advisors LLC lifted its position in shares of Align Technology by 2.7% during the third quarter. Flagship Harbor Advisors LLC now owns 1,694 shares of the medical equipment provider's stock worth $517,000 after purchasing an additional 44 shares in the last quarter. Finally, Richard W. Paul & Associates LLC lifted its position in shares of Align Technology by 2.8% during the fourth quarter. Richard W. Paul & Associates LLC now owns 1,669 shares of the medical equipment provider's stock worth $457,000 after purchasing an additional 45 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Joseph Lacob sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the transaction, the director now owns 131,994 shares in the company, valued at $40,023,220.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Joseph Lacob sold 15,000 shares of the company's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $303.22, for a total value of $4,548,300.00. Following the completion of the transaction, the director now owns 131,994 shares in the company, valued at $40,023,220.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Emory Wright sold 2,524 shares of the company's stock in a transaction that occurred on 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 owns 709 shares of the company's stock, valued at approximately $203,802.05. The disclosure for this sale can be found here. Insiders sold 27,524 shares of company stock worth $8,403,924 over the last quarter. 0.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Align Technology from $350.00 to $400.00 and gave the stock a "buy" rating in a research note on Thursday. The Goldman Sachs Group boosted their price target on shares of Align Technology from $197.00 to $225.00 and gave the stock a "sell" rating in a research note on Friday, February 2nd. SVB Leerink assumed coverage on shares of Align Technology in a research note on Monday, February 26th. They set a "market perform" rating and a $310.00 price target for the company. UBS Group boosted their price target on shares of Align Technology from $280.00 to $320.00 and gave the stock a "neutral" rating in a research note on Monday, April 15th. Finally, 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $344.45.

Align Technology Stock Performance

NASDAQ:ALGN traded down $2.36 during trading hours on Friday, hitting $298.98. The stock had a trading volume of 520,396 shares, compared to its average volume of 520,035. Align Technology, Inc. has a one year low of $176.34 and a one year high of $413.20. The company has a market cap of $22.50 billion, a price-to-earnings ratio of 51.37, a P/E/G ratio of 5.35 and a beta of 1.65. The business's 50 day moving average is $312.79 and its 200-day moving average is $269.88.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The medical equipment provider reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.13. The company had revenue of $956.73 million during the quarter, compared to analysts' expectations of $928.57 million. Align Technology had a net margin of 11.52% and a return on equity of 13.88%. On average, sell-side analysts anticipate that Align Technology, Inc. will post 7.69 EPS for the current fiscal year.

Align Technology 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.