Van Lanschot Kempen Investment Management N.V. Purchases 137,261 Shares of Align Technology, Inc. $ALGN

Van Lanschot Kempen Investment Management N.V. boosted its position in Align Technology, Inc. (NASDAQ:ALGN) by 153.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 226,699 shares of the medical equipment provider’s stock after acquiring an additional 137,261 shares during the period. Van Lanschot Kempen Investment Management N.V. owned 0.32% of Align Technology worth $35,399,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dana Investment Advisors Inc. bought a new stake in Align Technology in the 3rd quarter valued at about $9,991,000. AIA Group Ltd bought a new stake in Align Technology in the 3rd quarter valued at about $2,507,000. Sequoia Financial Advisors LLC raised its stake in Align Technology by 320.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 7,986 shares of the medical equipment provider’s stock valued at $1,247,000 after acquiring an additional 6,085 shares during the period. Clarkston Capital Partners LLC raised its stake in Align Technology by 25.7% in the 3rd quarter. Clarkston Capital Partners LLC now owns 141,215 shares of the medical equipment provider’s stock valued at $17,683,000 after acquiring an additional 28,850 shares during the period. Finally, M&G PLC bought a new stake in Align Technology in the 3rd quarter valued at about $10,904,000. 88.43% of the stock is currently owned by institutional investors.

Align Technology Stock Down 0.9%

ALGN stock opened at $174.84 on Friday. The firm has a market capitalization of $12.52 billion, a PE ratio of 29.34, a PEG ratio of 1.81 and a beta of 1.67. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $208.30. The stock has a 50-day simple moving average of $172.98 and a two-hundred day simple moving average of $170.60.

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

Align Technology declared that its Board of Directors has approved a stock buyback program on Wednesday, April 29th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the medical equipment provider to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages recently issued reports on ALGN. Piper Sandler boosted their price objective on Align Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Citigroup initiated coverage on Align Technology in a report on Wednesday, April 15th. They set a “buy” rating and a $240.00 target price for the company. Zacks Research raised Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, June 1st. Weiss Ratings lowered Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Finally, Barclays raised Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 target price for the company in a report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and an average target price of $205.85.

Align Technology Profile

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.