Janus Henderson Group PLC Has $5.28 Million Holdings in Align Technology, Inc. $ALGN

Key Points

• Janus Henderson Group reduced its Align Technology stake by 25.4% in the first quarter, selling 10,504 shares and retaining 30,791 shares valued at approximately $5.28 million. Institutional investors collectively own 88.43% of ALGN.
• Align Technology exceeded quarterly expectations, reporting $2.64 in EPS and $1.06 billion in revenue, with revenue up 4.3% year over year.
• Analysts maintain a consensus “Moderate Buy” rating with a $206.36 price target, while Align has authorized a $200 million share-repurchase program covering up to 1.6% of outstanding shares.

Janus Henderson Group PLC trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 25.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,791 shares of the medical equipment provider's stock after selling 10,504 shares during the quarter. Janus Henderson Group PLC's holdings in Align Technology were worth $5,281,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. grew 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 worth $27,000 after purchasing an additional 69 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of Align Technology by 222.4% in the fourth 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 in the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Align Technology in the second quarter valued at approximately $36,000. Tobam bought a new stake in shares of Align Technology in the fourth quarter valued at approximately $30,000. Finally, Hollencrest Capital Management acquired a new stake in Align Technology during the first quarter worth approximately $34,000. Institutional investors and hedge funds own 88.43% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ALGN shares. Evercore lifted their price objective on Align Technology from $200.00 to $220.00 in a report on Thursday, April 30th. Wall Street Zen cut Align Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. Needham & Company LLC reaffirmed a "hold" rating on shares of Align Technology in a research note on Thursday, July 30th. Leerink Partners increased their price objective on shares of Align Technology from $225.00 to $230.00 in a research note on Thursday, April 30th. Finally, Zacks Research downgraded shares of Align Technology from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $206.36.

Align Technology Stock Performance

Shares of ALGN stock opened at $169.08 on Friday. The stock's fifty day moving average price is $175.09 and its two-hundred day moving average price is $175.28. The company has a market cap of $12.11 billion, a PE ratio of 29.41, a P/E/G ratio of 1.86 and a beta of 1.65. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $200.43.

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

Align Technology declared that its board has approved a share repurchase program on Wednesday, April 29th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the medical equipment provider to reacquire up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign 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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