Jefferies Financial Group Inc. Invests $7.65 Million in Align Technology, Inc. $ALGN

Key Points

• Jefferies Financial Group acquired 45,346 Align Technology shares worth approximately $7.65 million, while institutional investors collectively own 88.43% of the company.
• Analyst sentiment remains favorable but mixed: Align has a consensus “Moderate Buy” rating and an average price target of $206.36, despite several recent downgrades.
• Align Technology exceeded quarterly expectations, reporting $2.64 in earnings per share and $1.06 billion in revenue, with revenue up 4.3% year over year.

Jefferies Financial Group Inc. bought a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 45,346 shares of the medical equipment provider's stock, valued at approximately $7,648,000. Jefferies Financial Group Inc. owned about 0.06% of Align Technology as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sequoia Financial Advisors LLC boosted its position in Align Technology by 320.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 7,986 shares of the medical equipment provider's stock worth $1,247,000 after acquiring an additional 6,085 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Align Technology by 35,513.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 545,604 shares of the medical equipment provider's stock worth $85,196,000 after acquiring an additional 544,072 shares during the period. K.J. Harrison & Partners Inc acquired a new position in Align Technology in the 2nd quarter valued at $1,872,000. Maridea Wealth Management LLC acquired a new position in Align Technology in the 2nd quarter valued at $1,659,000. Finally, California State Teachers Retirement System lifted its stake in shares of Align Technology by 21.2% during the 1st quarter. California State Teachers Retirement System now owns 79,293 shares of the medical equipment provider's stock worth $13,593,000 after purchasing an additional 13,867 shares during the period. 88.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALGN has been the subject of a number of recent analyst reports. Weiss Ratings downgraded Align Technology from a "hold (c)" rating to a "hold (c-)" rating in a research report on Monday, August 3rd. Needham & Company LLC reiterated a "hold" rating on shares of Align Technology in a research report on Thursday, July 30th. Zacks Research lowered Align Technology from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 16th. Wall Street Zen cut Align Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 1st. Finally, Leerink Partners upped their price objective 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $206.36.

Align Technology Stock Down 0.2%

Shares of NASDAQ ALGN opened at $158.84 on Friday. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $200.43. The firm has a fifty day moving average of $173.50 and a 200-day moving average of $175.27. The stock has a market capitalization of $11.38 billion, a PE ratio of 27.62, a P/E/G ratio of 1.69 and a beta of 1.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last issued its earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share for the quarter, topping 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 business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period last year, the company posted $2.49 EPS. The business's quarterly revenue was up 4.3% on a year-over-year basis. Equities research analysts expect that Align Technology, Inc. will post 9.38 EPS for the current fiscal year.

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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