Jupiter Topco LLC Acquires Shares of 30,791 Align Technology, Inc. $ALGN

Key Points

• Jupiter Topco LLC acquired 30,791 shares of Align Technology in the second quarter, valued at approximately $5.2 million. Institutional investors collectively own 88.43% of the company.
• Analysts maintain a generally positive outlook, with Align carrying a consensus “Moderate Buy” rating and an average price target of $206.36, despite some recent downgrades to “Hold” or “Buy.”
• Align reported quarterly EPS of $2.64, slightly exceeding estimates, while revenue rose 4.3% year over year to $1.06 billion. The stock recently opened at $159.79, below its 52-week high of $200.43.

Jupiter Topco LLC bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 30,791 shares of the medical equipment provider's stock, valued at approximately $5,194,000.

Several other hedge funds also recently made changes to their positions in ALGN. Sunbelt Securities Inc. boosted its stake 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 during the period. Blue Trust Inc. increased its stake in 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 acquiring an additional 69 shares during the period. Tobam acquired a new position in Align Technology in the 4th quarter valued at $30,000. Hollencrest Capital Management acquired a new position in Align Technology in the 1st quarter valued at $34,000. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Align Technology by 1,773.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 281 shares of the medical equipment provider's stock valued at $35,000 after acquiring an additional 266 shares during the period. 88.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on ALGN shares. Needham & Company LLC reissued a "hold" rating on shares of Align Technology in a report on Thursday, July 30th. Wall Street Zen cut shares of Align Technology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 1st. 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. BMO Capital Markets initiated coverage on shares of Align Technology in a research note on Wednesday, July 8th. They set an "outperform" rating and a $209.00 price objective on the stock. Finally, Zacks Research lowered shares of Align Technology from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Align Technology presently 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 $159.79 on Tuesday. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $200.43. The stock's fifty day moving average price is $172.73 and its two-hundred day moving average price is $174.77. The company has a market cap of $11.44 billion, a PE ratio of 27.79, a P/E/G ratio of 1.67 and a beta of 1.65.

Align Technology (NASDAQ:ALGN - Get Free Report) last posted its quarterly 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. 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 during the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the previous year, the firm earned $2.49 EPS. Align Technology's revenue was up 4.3% on a year-over-year basis. On average, equities analysts predict that Align Technology, Inc. will post 9.38 EPS for the current fiscal year.

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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