Investment House LLC Acquires 31,117 Shares of Align Technology, Inc. $ALGN

Investment House LLC raised its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 61.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,117 shares of the medical equipment provider’s stock after acquiring an additional 31,117 shares during the period. Investment House LLC owned about 0.11% of Align Technology worth $12,823,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Align Technology by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock valued at $1,624,000 after purchasing an additional 469 shares in the last quarter. Focus Partners Wealth boosted its stake in shares of Align Technology by 5.2% during the first quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock valued at $486,000 after purchasing an additional 151 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Align Technology during the second quarter valued at about $204,000. EverSource Wealth Advisors LLC boosted its stake in shares of Align Technology by 55.7% during the second quarter. EverSource Wealth Advisors LLC now owns 531 shares of the medical equipment provider’s stock valued at $101,000 after purchasing an additional 190 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in shares of Align Technology by 201.7% during the second quarter. First Trust Advisors LP now owns 88,270 shares of the medical equipment provider’s stock valued at $16,712,000 after purchasing an additional 59,010 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Stock Performance

Shares of ALGN opened at $155.16 on Wednesday. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $208.30. The business’s 50 day moving average price is $174.54 and its two-hundred day moving average price is $166.85. The firm has a market cap of $11.11 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 1.63 and a beta of 1.70.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, April 29th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.32. Align Technology had a return on equity of 15.82% and a net margin of 10.50%.The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the firm earned $2.13 earnings per share. The company’s revenue was up 6.2% compared to the same quarter last year. Research analysts predict that Align Technology, Inc. will post 9.48 EPS for the current fiscal year.

Align Technology declared that its Board of Directors has initiated a stock buyback plan on Wednesday, April 29th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the medical equipment provider to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

ALGN has been the topic of a number of recent research reports. Leerink Partners lifted their price target on Align Technology from $225.00 to $230.00 in a research note on Thursday, April 30th. Jefferies Financial Group lifted their price target on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Piper Sandler lifted their price target on Align Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Morgan Stanley lifted their price target on Align Technology from $169.00 to $188.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. Finally, Evercore lifted their price target on Align Technology from $200.00 to $220.00 in a research note on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $205.85.

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.