Universal Beteiligungs und Servicegesellschaft mbH Acquires 38,410 Shares of Align Technology, Inc. (NASDAQ:ALGN)

Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN - Free Report) by 33.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 151,883 shares of the medical equipment provider's stock after buying an additional 38,410 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.21% of Align Technology worth $24,128,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ALGN. Teacher Retirement System of Texas acquired a new stake in shares of Align Technology during the first quarter worth $1,647,000. Asset Management One Co. Ltd. lifted its holdings in Align Technology by 14.5% in the first quarter. Asset Management One Co. Ltd. now owns 31,624 shares of the medical equipment provider's stock valued at $5,024,000 after buying an additional 4,009 shares during the period. Giverny Capital Inc. boosted its position in Align Technology by 30.3% during the fourth quarter. Giverny Capital Inc. now owns 43,006 shares of the medical equipment provider's stock valued at $8,967,000 after acquiring an additional 10,013 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its holdings in Align Technology by 1,679.5% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 35,110 shares of the medical equipment provider's stock worth $7,321,000 after acquiring an additional 33,137 shares during the period. Finally, American Assets Inc. bought a new position in shares of Align Technology in the 4th quarter worth about $417,000. 88.43% of the stock is owned by institutional investors.

Align Technology Stock Up 1.7%

NASDAQ ALGN traded up $3.38 on Friday, reaching $205.56. The company had a trading volume of 702,548 shares, compared to its average volume of 837,398. The company's fifty day moving average is $187.06 and its 200 day moving average is $186.68. Align Technology, Inc. has a 52-week low of $141.74 and a 52-week high of $262.87. The stock has a market capitalization of $14.90 billion, a P/E ratio of 37.44, a P/E/G ratio of 2.17 and a beta of 1.63.

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

Align Technology declared that its board has approved a stock buyback program on Tuesday, May 6th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the medical equipment provider to reacquire up to 7.9% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

ALGN has been the topic of several research analyst reports. UBS Group cut their target price on Align Technology from $240.00 to $215.00 and set a "neutral" rating on the stock in a research report on Thursday, April 24th. Piper Sandler reaffirmed an "overweight" rating and set a $250.00 price objective (up previously from $235.00) on shares of Align Technology in a research report on Thursday, May 1st. Hsbc Global Res lowered shares of Align Technology from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 25th. Evercore ISI increased their target price on shares of Align Technology from $200.00 to $220.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 9th. Finally, Needham & Company LLC restated a "hold" rating on shares of Align Technology in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Align Technology has a consensus rating of "Moderate Buy" and an average target price of $242.92.

About Align Technology

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.