Deutsche Bank AG Invests $99.78 Million in Align Technology, Inc. $ALGN

Deutsche Bank AG purchased a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 591,596 shares of the medical equipment provider's stock, valued at approximately $99,779,000. Deutsche Bank AG owned approximately 0.83% of Align Technology at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in shares of Align Technology by 77.5% during the first quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider's stock valued at $27,000 after buying an additional 69 shares during the last quarter. Sunbelt Securities Inc. increased its holdings 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 worth $25,000 after purchasing an additional 109 shares in the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Align Technology in the 2nd quarter worth $36,000. Tobam purchased a new position in shares of Align Technology in the fourth quarter worth $30,000. Finally, Hollencrest Capital Management purchased a new position in shares of Align Technology in the first quarter worth $34,000. Institutional investors own 88.43% of the company's stock.

Align Technology Price Performance

NASDAQ:ALGN opened at $158.94 on Friday. The firm has a market capitalization of $11.38 billion, a price-to-earnings ratio of 27.64, a price-to-earnings-growth ratio of 1.73 and a beta of 1.65. Align Technology, Inc. has a one year low of $122.00 and a one year high of $200.43. The business has a fifty day moving average price of $175.27 and a 200-day moving average price of $175.59.

Align Technology (NASDAQ:ALGN - Get Free Report) last announced 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 analysts' expectations of $1.05 billion. Align Technology had a return on equity of 15.86% and a net margin of 9.99%.Align Technology's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm earned $2.49 EPS. On average, equities research analysts expect that Align Technology, Inc. will post 9.38 earnings per share for the current fiscal year.

Align Technology declared that its board has authorized a share buyback plan on Wednesday, April 29th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the medical equipment provider to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

ALGN has been the topic of several recent analyst reports. UBS Group reaffirmed a "neutral" rating and set a $189.00 price objective on shares of Align Technology in a research report on Thursday, July 23rd. Weiss Ratings lowered Align Technology from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, August 3rd. Evercore upped their target price on shares of Align Technology from $200.00 to $220.00 in a research note on Thursday, April 30th. Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a report on Thursday, July 30th. Finally, Wall Street Zen downgraded shares of Align Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $206.36.

About Align Technology

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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