North Growth Management Ltd. Grows Stock Position in Align Technology, Inc. $ALGN

North Growth Management Ltd. lifted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 36.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 45,000 shares of the medical equipment provider’s stock after acquiring an additional 12,000 shares during the quarter. North Growth Management Ltd. owned approximately 0.06% of Align Technology worth $5,621,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ALGN. Royal Bank of Canada grew its stake in Align Technology by 4.0% in the 1st quarter. Royal Bank of Canada now owns 176,811 shares of the medical equipment provider’s stock valued at $28,088,000 after buying an additional 6,837 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Align Technology by 104.2% in the 1st quarter. AQR Capital Management LLC now owns 404,310 shares of the medical equipment provider’s stock worth $63,133,000 after purchasing an additional 206,308 shares in the last quarter. Invenomic Capital Management LP purchased a new stake in shares of Align Technology in the 1st quarter valued at $3,575,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Align Technology by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock worth $1,624,000 after buying an additional 469 shares during the period. Finally, Nissay Asset Management Corp Japan ADV lifted its position in Align Technology by 1.2% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 8,710 shares of the medical equipment provider’s stock valued at $1,384,000 after purchasing an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Down 0.1%

Shares of NASDAQ:ALGN opened at $156.03 on Friday. The firm’s 50 day moving average price is $148.38 and its 200-day moving average price is $152.55. The stock has a market capitalization of $11.20 billion, a PE ratio of 30.24, a price-to-earnings-growth ratio of 1.76 and a beta of 1.83. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $237.23.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.23. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The business had revenue of $995.69 million for the quarter, compared to the consensus estimate of $980.75 million. During the same quarter in the previous year, the firm earned $2.35 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ALGN shares. Needham & Company LLC restated a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. Leerink Partners boosted their price objective on shares of Align Technology from $172.00 to $189.00 in a research report on Thursday, October 30th. Barclays initiated coverage on shares of Align Technology in a report on Monday, December 8th. They issued an “equal weight” rating and a $170.00 price objective for the company. Wells Fargo & Company cut their target price on shares of Align Technology from $199.00 to $181.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Finally, Zacks Research upgraded shares of Align Technology from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Align Technology presently has a consensus rating of “Hold” and an average price target of $172.18.

About Align Technology

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.