Align Technology, Inc. (NASDAQ:ALGN) Shares Purchased by Schaper Benz & Wise Investment Counsel Inc. WI

Schaper Benz & Wise Investment Counsel Inc. WI increased its holdings in Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 30.5% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 52,694 shares of the medical equipment provider's stock after buying an additional 12,315 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI owned 0.07% of Align Technology worth $8,371,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Principal Securities Inc. raised its holdings in shares of Align Technology by 34.5% in the 4th quarter. Principal Securities Inc. now owns 1,881 shares of the medical equipment provider's stock valued at $392,000 after acquiring an additional 483 shares in the last quarter. Allworth Financial LP increased its position in shares of Align Technology by 1,479.1% in the fourth quarter. Allworth Financial LP now owns 2,416 shares of the medical equipment provider's stock worth $504,000 after purchasing an additional 2,263 shares during the last quarter. Giverny Capital Inc. raised its stake in Align Technology by 30.3% in the fourth quarter. Giverny Capital Inc. now owns 43,006 shares of the medical equipment provider's stock valued at $8,967,000 after purchasing an additional 10,013 shares in the last quarter. Virtu Financial LLC bought a new stake in Align Technology during the fourth quarter valued at approximately $3,115,000. Finally, Schonfeld Strategic Advisors LLC grew its stake in Align Technology by 1,679.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 35,110 shares of the medical equipment provider's stock worth $7,321,000 after buying an additional 33,137 shares in the last quarter. Institutional investors own 88.43% of the company's stock.

Align Technology Price Performance

Shares of Align Technology stock traded up $4.85 during trading on Wednesday, reaching $180.01. 1,421,154 shares of the stock traded hands, compared to its average volume of 914,819. The company has a market capitalization of $13.05 billion, a price-to-earnings ratio of 32.79, a P/E/G ratio of 1.86 and a beta of 1.64. Align Technology, Inc. has a 52-week low of $141.74 and a 52-week high of $263.24. The business has a fifty day simple moving average of $177.66 and a two-hundred day simple moving average of $192.18.

Align Technology (NASDAQ:ALGN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The medical equipment provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.13. Align Technology had a return on equity of 13.52% and a net margin of 10.29%. The company had revenue of $979.26 million for the quarter, compared to analyst estimates of $977.90 million. During the same quarter in the prior year, the firm posted $2.14 EPS. Align Technology's quarterly revenue was down 1.8% compared to the same quarter last year. On average, research analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Align Technology declared that its Board of Directors has initiated a stock buyback plan on Tuesday, May 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical equipment provider to purchase up to 7.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Hsbc Global Res lowered shares of Align Technology from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 25th. Mizuho dropped their price target on Align Technology from $250.00 to $245.00 and set an "outperform" rating for the company in a research note on Tuesday, April 29th. UBS Group cut their price objective on Align Technology from $240.00 to $215.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company decreased their price objective on Align Technology from $255.00 to $246.00 and set an "overweight" rating on the stock in a report on Thursday, May 1st. Finally, Needham & Company LLC restated a "hold" rating on shares of Align Technology in a research report on Thursday, May 1st. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $241.25.

Align Technology Profile

Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.