Nicollet Investment Management Inc. Acquires Shares of 6,292 Align Technology, Inc. $ALGN

Nicollet Investment Management Inc. acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,292 shares of the medical equipment provider’s stock, valued at approximately $982,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ALGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Align Technology by 4.8% in the first 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 acquiring an additional 469 shares during the last quarter. Focus Partners Wealth boosted its stake in Align Technology by 5.2% in the first quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock valued at $486,000 after acquiring an additional 151 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Align Technology in the second quarter valued at approximately $204,000. EverSource Wealth Advisors LLC boosted 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 valued at $101,000 after acquiring an additional 190 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Align Technology by 201.7% in the second quarter. First Trust Advisors LP now owns 88,270 shares of the medical equipment provider’s stock valued at $16,712,000 after acquiring an additional 59,010 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Trading Down 4.3%

ALGN opened at $170.50 on Thursday. The stock has a market capitalization of $12.21 billion, a P/E ratio of 28.61, a P/E/G ratio of 1.83 and a beta of 1.67. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $208.30. The firm’s fifty day simple moving average is $172.84 and its 200 day simple moving average is $170.33.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings data on Wednesday, April 29th. The medical equipment provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.26 by $0.32. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Align Technology had a net margin of 10.50% and a return on equity of 15.82%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.13 EPS. On average, equities research analysts predict that Align Technology, Inc. will post 9.48 EPS for the current fiscal year.

Align Technology announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 29th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the medical equipment provider to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ALGN shares. Barclays raised 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 research note on Tuesday, March 17th. Leerink Partners lifted their price target on shares of Align Technology from $225.00 to $230.00 in a research report on Thursday, April 30th. Wall Street Zen raised shares of Align Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 7th. Morgan Stanley lifted their price target on shares of Align Technology from $169.00 to $188.00 and gave the stock an “equal weight” rating in a research report on Friday, April 24th. Finally, Evercore lifted their price target on shares of Align Technology from $200.00 to $220.00 in a research report on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Align Technology has a consensus rating of “Moderate Buy” and a consensus price target of $205.85.

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.