LSV Asset Management acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN – Free Report) during the 4th quarter, Holdings Channel reports. The firm acquired 529,142 shares of the medical equipment provider’s stock, valued at approximately $82,626,000.
Other large investors have also made changes to their positions in the company. Sentry Investment Management LLC lifted its position in shares of Align Technology by 73.1% in the third quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock valued at $25,000 after acquiring an additional 79 shares in the last quarter. Independence Bank of Kentucky lifted its position in shares of Align Technology by 77.7% in the fourth quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock worth $29,000 after buying an additional 80 shares in the last quarter. Miller Global Investments LLC purchased a new stake in shares of Align Technology in the fourth quarter worth about $31,000. JFS Wealth Advisors LLC lifted its position in shares of Align Technology by 2,016.7% in the third quarter. JFS Wealth Advisors LLC now owns 254 shares of the medical equipment provider’s stock worth $32,000 after buying an additional 242 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Align Technology by 1,773.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 281 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 266 shares in the last quarter. 88.43% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently commented on the company. Stifel Nicolaus boosted their target price on Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. UBS Group boosted their target price on Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Wells Fargo & Company boosted their target price on Align Technology from $181.00 to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. Weiss Ratings upgraded Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday. Finally, Jefferies Financial Group upped their price objective on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Eight investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $205.85.
Align Technology Stock Up 0.3%
Shares of NASDAQ:ALGN opened at $163.61 on Friday. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $208.30. The stock has a market cap of $11.72 billion, a P/E ratio of 27.45, a price-to-earnings-growth ratio of 1.68 and a beta of 1.70. The business’s 50 day moving average is $173.96 and its 200 day moving average is $167.18.
Align Technology (NASDAQ:ALGN – Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the prior year, the firm earned $2.13 earnings per share. Align Technology’s revenue was up 6.2% compared to the same quarter last year. On average, sell-side 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 initiated a stock repurchase program on Wednesday, April 29th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the medical equipment provider to buy 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 shares are undervalued.
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.
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