Eversept Partners LLC Invests $889,000 in Align Technology, Inc. (ALGN) Stock

Eversept Partners LLC acquired a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 4,000 shares of the medical equipment provider’s stock, valued at approximately $889,000. Align Technology comprises 0.7% of Eversept Partners LLC’s portfolio, making the stock its 27th largest holding.

A number of other hedge funds have also recently bought and sold shares of ALGN. Ark Investment Management LLC increased its position in Align Technology by 73.5% during the second quarter. Ark Investment Management LLC now owns 12,773 shares of the medical equipment provider’s stock valued at $1,917,000 after acquiring an additional 5,410 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Align Technology by 155.4% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 6,327 shares of the medical equipment provider’s stock valued at $950,000 after acquiring an additional 3,850 shares during the last quarter. Verition Fund Management LLC bought a new position in Align Technology during the second quarter valued at $259,000. Oakbrook Investments LLC increased its position in Align Technology by 23.4% during the third quarter. Oakbrook Investments LLC now owns 6,995 shares of the medical equipment provider’s stock valued at $1,303,000 after acquiring an additional 1,325 shares during the last quarter. Finally, APG Asset Management N.V. increased its position in Align Technology by 500.0% during the third quarter. APG Asset Management N.V. now owns 50,400 shares of the medical equipment provider’s stock valued at $9,388,000 after acquiring an additional 42,000 shares during the last quarter. Institutional investors and hedge funds own 80.72% of the company’s stock.

In other Align Technology news, insider Joseph M. Hogan acquired 1,500 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was bought at an average cost of $233.63 per share, with a total value of $350,445.00. Following the completion of the purchase, the insider now directly owns 42,984 shares in the company, valued at $10,042,351.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Emory Wright sold 5,025 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $263.68, for a total transaction of $1,324,992.00. Following the completion of the sale, the vice president now directly owns 80,762 shares of the company’s stock, valued at $21,295,324.16. The disclosure for this sale can be found here. Insiders have sold 80,529 shares of company stock valued at $20,986,743 over the last three months. Insiders own 1.60% of the company’s stock.

ALGN has been the topic of a number of analyst reports. Robert W. Baird reiterated a “buy” rating and set a $245.00 price objective on shares of Align Technology in a research report on Friday, October 27th. Leerink Swann reiterated an “outperform” rating and set a $250.00 price objective on shares of Align Technology in a research report on Friday, October 27th. Credit Suisse Group reiterated an “outperform” rating and set a $276.00 price objective (up previously from $261.00) on shares of Align Technology in a research report on Tuesday, November 28th. Deutsche Bank initiated coverage on shares of Align Technology in a research report on Friday, December 8th. They set a “hold” rating and a $250.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Align Technology from a “hold” rating to a “buy” rating and set a $318.00 price objective on the stock in a research report on Monday, January 29th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $258.54.

Shares of Align Technology, Inc. (NASDAQ:ALGN) opened at $259.68 on Friday. The stock has a market cap of $20,216.00, a price-to-earnings ratio of 91.44, a PEG ratio of 1.92 and a beta of 1.48. Align Technology, Inc. has a one year low of $100.27 and a one year high of $287.32.

Align Technology (NASDAQ:ALGN) last issued its earnings results on Tuesday, January 30th. The medical equipment provider reported $1.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.23. The firm had revenue of $421.30 million during the quarter, compared to analyst estimates of $395.88 million. Align Technology had a net margin of 15.71% and a return on equity of 28.55%. The business’s revenue was up 43.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 earnings per share. analysts anticipate that Align Technology, Inc. will post 4.49 EPS for the current fiscal year.

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Align Technology Company Profile

Align Technology, Inc designs, manufactures and markets a system of clear aligner therapy, intra-oral scanners and computer-aided design/computer-aided manufacturing (CAD/CAM) digital services used in dentistry, orthodontics and dental records storage. The Company operates through two segments: Clear Aligner segment and Scanner and Services (Scanner) segment.

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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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