Align Technology, Inc. $ALGN Position Boosted by Yousif Capital Management LLC

Key Points

• Yousif Capital Management increased its Align Technology position by 1,356.9% in the third quarter, bringing its holdings to 132,445 shares worth approximately $17.65 million. Institutional investors collectively own 88.43% of ALGN.
• Analyst sentiment remains favorable but mixed: Align has an average “Moderate Buy” rating and a consensus price target of $190.93, although several firms recently lowered their targets.
• ALGN recently traded at $154.51, down 0.6%, while the company’s latest quarterly results slightly exceeded expectations with adjusted earnings of $2.64 per share and revenue of $1.06 billion.

Yousif Capital Management LLC grew its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 1,356.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 132,445 shares of the medical equipment provider's stock after buying an additional 123,354 shares during the period. Yousif Capital Management LLC owned approximately 0.18% of Align Technology worth $17,648,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Blue Trust Inc. lifted its position in shares of Align Technology by 77.5% during the 1st quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider's stock valued at $27,000 after acquiring an additional 69 shares during the period. Hollencrest Capital Management bought a new stake in Align Technology in the first quarter valued at $34,000. Osterweis Capital Management Inc. bought a new stake in Align Technology in the second quarter valued at $36,000. Global Retirement Partners LLC bought a new stake in Align Technology in the second quarter valued at $38,000. Finally, Bessemer Group Inc. raised its holdings in shares of Align Technology by 37.2% during the first quarter. Bessemer Group Inc. now owns 247 shares of the medical equipment provider's stock valued at $43,000 after purchasing an additional 67 shares during the period. Institutional investors and hedge funds own 88.43% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ALGN shares. Wall Street Zen cut shares of Align Technology from a "buy" rating to a "hold" rating in a research report on Saturday. UBS Group reaffirmed a "neutral" rating and issued a $189.00 target price on shares of Align Technology in a research report on Thursday, July 23rd. Mizuho dropped their price target on Align Technology from $220.00 to $200.00 and set an "outperform" rating on the stock in a research note on Thursday. Stifel Nicolaus cut their price target on Align Technology from $210.00 to $175.00 and set a "buy" rating on the stock in a report on Friday, October 9th. Finally, Raymond James Financial reissued a "buy" rating on shares of Align Technology in a research note on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $190.93.

Align Technology Stock Down 0.6%

ALGN traded down $1.00 during trading on Friday, hitting $154.51. 911,574 shares of the company's stock were exchanged, compared to its average volume of 947,763. The business's 50 day moving average is $151.62 and its two-hundred day moving average is $166.55. Align Technology, Inc. has a fifty-two week low of $130.23 and a fifty-two week high of $200.43. The stock has a market cap of $11.07 billion, a P/E ratio of 26.87, a PEG ratio of 1.66 and a beta of 1.67.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share for the quarter, beating analysts' consensus estimates of $2.62 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The business's quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $2.49 earnings per share. On average, sell-side analysts forecast that Align Technology, Inc. will post 9.34 earnings per share for the current year.

Align Technology Profile

Align Technology, Inc is a global medical device company focused on digital orthodontics and restorative dentistry. Founded in 1997, the company is best known for the Invisalign system, a series of clear, removable aligners designed to gradually move teeth and treat a range of orthodontic conditions.

Align's products and services also include digital scanning and dental practice solutions. Its iTero intraoral scanners create digital impressions for orthodontic and restorative procedures, while its exocad business develops computer-aided design and computer-aided manufacturing software used by dental laboratories, clinicians and other dental professionals.

The company serves orthodontists, dentists, dental laboratories and patients in numerous markets worldwide.

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