111 Capital Invests $319,000 in Align Technology, Inc. (NASDAQ:ALGN)

111 Capital acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,530 shares of the medical equipment provider's stock, valued at approximately $319,000.

Several other large investors also recently bought and sold shares of ALGN. Allspring Global Investments Holdings LLC boosted its stake in shares of Align Technology by 119.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 169,641 shares of the medical equipment provider's stock worth $35,368,000 after buying an additional 92,407 shares during the period. Swedbank AB boosted its stake in shares of Align Technology by 25.0% during the fourth quarter. Swedbank AB now owns 486,267 shares of the medical equipment provider's stock worth $101,392,000 after buying an additional 97,152 shares during the period. Principal Securities Inc. boosted its stake in shares of Align Technology by 34.5% during the fourth quarter. Principal Securities Inc. now owns 1,881 shares of the medical equipment provider's stock worth $392,000 after buying an additional 483 shares during the period. Allworth Financial LP boosted its stake in shares of Align Technology by 1,479.1% during the fourth quarter. Allworth Financial LP now owns 2,416 shares of the medical equipment provider's stock worth $504,000 after buying an additional 2,263 shares during the period. Finally, Giverny Capital Inc. boosted its stake in shares of Align Technology by 30.3% during the fourth quarter. Giverny Capital Inc. now owns 43,006 shares of the medical equipment provider's stock worth $8,967,000 after buying an additional 10,013 shares during the period. Institutional investors and hedge funds own 88.43% of the company's stock.

Align Technology Price Performance

Shares of ALGN stock traded down $2.30 during midday trading on Friday, reaching $180.75. 1,194,786 shares of the company traded hands, compared to its average volume of 921,505. The firm's 50 day simple moving average is $171.97 and its two-hundred day simple moving average is $196.11. Align Technology, Inc. has a 1-year low of $141.74 and a 1-year high of $271.59. The firm has a market cap of $13.10 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 2.24 and a beta of 1.68.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.00 by $0.13. Align Technology had a net margin of 10.54% and a return on equity of 13.84%. The company had revenue of $979.26 million during the quarter, compared to the consensus estimate of $977.90 million. During the same period last year, the firm earned $2.14 EPS. The company's revenue for the quarter was down 1.8% on a year-over-year basis. As a group, research analysts anticipate that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Align Technology announced that its board has initiated a share buyback plan on Tuesday, May 6th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the medical equipment provider to repurchase up to 7.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. UBS Group decreased their target price on shares of Align Technology from $240.00 to $215.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Hsbc Global Res downgraded shares of Align Technology from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Morgan Stanley decreased their target price on shares of Align Technology from $280.00 to $272.00 and set an "overweight" rating for the company in a research note on Thursday, February 6th. Wells Fargo & Company reduced their price objective on shares of Align Technology from $255.00 to $246.00 and set an "overweight" rating for the company in a research report on Thursday, May 1st. Finally, Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $241.25.

Align Technology Company Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.