K.J. Harrison & Partners Inc Grows Stock Position in Align Technology, Inc. $ALGN

K.J. Harrison & Partners Inc increased its stake in shares of Align Technology, Inc. (NASDAQ:ALGN) by 781.3% in the 4th quarter, HoldingsChannel reports. The firm owned 14,100 shares of the medical equipment provider’s stock after purchasing an additional 12,500 shares during the period. K.J. Harrison & Partners Inc’s holdings in Align Technology were worth $2,202,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Align Technology by 4.8% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock valued at $1,624,000 after buying an additional 469 shares during the period. Focus Partners Wealth increased its stake in shares of Align Technology by 5.2% during the first quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock worth $486,000 after buying an additional 151 shares during the period. Sivia Capital Partners LLC acquired a new stake in Align Technology in the second quarter valued at approximately $204,000. EverSource Wealth Advisors LLC lifted its stake in Align Technology by 55.7% in the second quarter. EverSource Wealth Advisors LLC now owns 531 shares of the medical equipment provider’s stock worth $101,000 after acquiring an additional 190 shares during the last quarter. Finally, First Trust Advisors LP grew its holdings in Align Technology by 201.7% during the 2nd quarter. First Trust Advisors LP now owns 88,270 shares of the medical equipment provider’s stock worth $16,712,000 after acquiring an additional 59,010 shares in the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Stock Up 3.1%

ALGN opened at $173.94 on Thursday. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $208.30. The business’s 50 day moving average is $178.45 and its two-hundred day moving average is $165.08. The firm has a market cap of $12.46 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 1.74 and a beta of 1.70.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, April 29th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.32. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. Align Technology had a net margin of 10.50% and a return on equity of 15.82%. The company’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $2.13 earnings per share. Equities analysts expect that Align Technology, Inc. will post 9.43 EPS for the current fiscal year.

Align Technology announced that its board has approved a stock buyback program on Wednesday, April 29th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the medical equipment provider to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at Align Technology

In other Align Technology news, EVP John Morici sold 7,969 shares of Align Technology stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $189.31, for a total value of $1,508,611.39. Following the transaction, the executive vice president directly owned 8,237 shares in the company, valued at approximately $1,559,346.47. The trade was a 49.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ALGN shares. Barclays upgraded shares of Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 price objective on the stock in a report on Tuesday, March 17th. Weiss Ratings restated a “hold (c-)” rating on shares of Align Technology in a research note on Wednesday, April 15th. Piper Sandler upped their price objective on Align Technology from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Robert W. Baird set a $218.00 price objective on Align Technology in a report on Thursday, February 5th. Finally, Mizuho boosted their target price on Align Technology from $200.00 to $215.00 and gave the stock an “outperform” rating in a research note on Thursday, February 5th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $205.85.

Align Technology Company 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.