Adrian Johnson
TLDR:
- Capital Investment Advisors LLC increased its stake in Align Technology, Inc. by 73.1% in the 4th quarter.
- Institutional investors now own 87.07% of the company’s stock.
Article Summary:
Capital Investment Advisors LLC significantly increased its holdings in Align Technology, Inc. (NASDAQ: ALGN) in the 4th quarter, acquiring 863 additional shares and bringing their total ownership to 2,043 shares valued at $560,000. Other hedge funds and institutional investors like Exchange Traded Concepts LLC, American Century Companies Inc., Modera Wealth Management LLC, Neo Ivy Capital Management, and Carmignac Gestion also bought shares of Align Technology during the 3rd quarter.
Shares of ALGN stock opened at $314.35, with a market capitalization of $23.61 billion. The company reported strong earnings results for the quarter, with a revenue of $956.73 million and an EPS of $1.91, surpassing analysts’ estimates. Equities research analysts predict a 7.65 earnings per share for the current year.
In terms of insider trading, several executives like EVP Emory Wright and Director Joseph Lacob sold significant amounts of Align Technology stock in separate transactions. Analysts have issued varying ratings on the stock, with an average rating of “Hold” and an average price target of $338.09.
Align Technology, Inc. designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners for orthodontists and dentists. The company’s Clear Aligner segment offers products catering to younger patients and different dental needs.