4,243 Shares in Align Technology, Inc. $ALGN Bought by Inceptionr LLC

Inceptionr LLC acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,243 shares of the medical equipment provider’s stock, valued at approximately $727,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Blue Trust Inc. raised its stake in Align Technology by 77.5% during the first quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 69 shares in the last quarter. Sunbelt Securities Inc. lifted its holdings in shares of Align Technology by 222.4% in the fourth quarter. Sunbelt Securities Inc. now owns 158 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 109 shares during the last quarter. Independence Bank of Kentucky boosted its stake in shares of Align Technology by 77.7% in the 4th quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 80 shares in the last quarter. CYBER HORNET ETFs LLC acquired a new stake in shares of Align Technology in the 2nd quarter valued at approximately $36,000. Finally, Tobam bought a new stake in shares of Align Technology during the 4th quarter valued at approximately $30,000. Institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

Align Technology stock opened at $167.01 on Friday. The business has a 50 day moving average of $173.31 and a 200-day moving average of $175.01. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $208.30. The company has a market capitalization of $11.96 billion, a P/E ratio of 28.02, a P/E/G ratio of 1.72 and a beta of 1.67.

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

Align Technology announced that its Board of Directors has authorized a stock repurchase program 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 reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

ALGN has been the subject of a number of research analyst reports. Zacks Research cut shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Citigroup began coverage on shares of Align Technology in a research report on Wednesday, April 15th. They issued a “buy” rating and a $240.00 target price on the stock. Morgan Stanley boosted their target price on shares of Align Technology from $169.00 to $188.00 and gave the stock an “equal weight” rating in a research note on Friday, April 24th. Leerink Partners upped their price target on shares of Align Technology from $225.00 to $230.00 in a report on Thursday, April 30th. Finally, Evercore increased their price target on Align Technology from $200.00 to $220.00 in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $206.36.

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.