Align Technology, Inc. $ALGN Shares Bought by Algert Global LLC

Algert Global LLC boosted its position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 153.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 117,446 shares of the medical equipment provider's stock after acquiring an additional 71,036 shares during the period. Algert Global LLC owned about 0.16% of Align Technology worth $19,808,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Sunbelt Securities Inc. grew its position in shares of Align Technology by 222.4% in the 4th quarter. Sunbelt Securities Inc. now owns 158 shares of the medical equipment provider's stock valued at $25,000 after buying an additional 109 shares during the last quarter. Blue Trust Inc. lifted its position in Align Technology by 77.5% in the first 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 last quarter. Tobam acquired a new position in Align Technology in the fourth quarter valued at $30,000. Hollencrest Capital Management acquired a new position in Align Technology in the first quarter valued at $34,000. Finally, Caitong International Asset Management Co. Ltd grew its holdings in shares of Align Technology by 1,773.3% during the third quarter. Caitong International Asset Management Co. Ltd now owns 281 shares of the medical equipment provider's stock worth $35,000 after purchasing an additional 266 shares during the last quarter. 88.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ALGN. BMO Capital Markets started coverage on shares of Align Technology in a research report on Wednesday, July 8th. They issued an "outperform" rating and a $209.00 price target for the company. Weiss Ratings downgraded shares of Align Technology from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, August 3rd. Wall Street Zen lowered shares of Align Technology from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 1st. Zacks Research cut shares of Align Technology from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 16th. Finally, Leerink Partners increased their target price on shares of Align Technology from $225.00 to $230.00 in a research note on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Align Technology has a consensus rating of "Moderate Buy" and a consensus price target of $206.36.

Align Technology Trading Down 1.8%

Shares of ALGN opened at $159.64 on Tuesday. The firm's 50-day moving average is $174.65 and its two-hundred day moving average is $175.60. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $200.43. The firm has a market capitalization of $11.43 billion, a P/E ratio of 27.76, a PEG ratio of 1.73 and a beta of 1.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 EPS for the quarter, topping analysts' consensus estimates of $2.62 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.05 billion. Align Technology had a return on equity of 15.86% and a net margin of 9.99%.Align Technology's quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.49 earnings per share. Analysts predict that Align Technology, Inc. will post 9.38 EPS for the current year.

Align Technology announced that its Board of Directors has initiated a share 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 purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management 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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