National Bank of Canada FI increased its position in the San Jose-based dental manufacturer Align Technology, Inc. by 25.7% during the third quarter, as stated in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased an additional 8,338 shares during the quarter, bringing its total holdings to 40,826 shares. At the end of the most recent quarter, National Bank of Canada FI owned approximately 0.05% of Align Technology, valued at $10,383,000.
In October, Ashburton Jersey Ltd., based in the Channel Islands, became the latest major investor to acquire a stake in Align Technology. The company is widely recognized for its orthodontic solutions, particularly the Invisalign clear aligner system.
Align Technology reported its Q2 2024 financial results earlier this year, highlighting total revenues of $1.03 billion, which represents a sequential increase of 3.1% and a year-over-year increase of 2.6%. The clear aligner business was a significant contributor to this growth, with 642,700 cases shipped—up 6.2% sequentially and 3.2% year-over-year.
Furthermore, clear aligner volume for teens saw a notable increase, rising 8.8% sequentially and 8.0% year-over-year, with 216,700 cases shipped during the quarter.
