Investment House LLC Purchases 31,117 Shares of Align Technology, Inc. $ALGN

Investment House LLC grew its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 61.0% in the 4th quarter, HoldingsChannel reports. The fund owned 82,117 shares of the medical equipment provider’s stock after buying an additional 31,117 shares during the period. Investment House LLC’s holdings in Align Technology were worth $12,823,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Align Technology by 4.8% during 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 in the last quarter. Focus Partners Wealth increased its holdings 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 valued at $486,000 after acquiring an additional 151 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Align Technology during the second quarter valued at approximately $204,000. EverSource Wealth Advisors LLC increased its holdings in shares of Align Technology by 55.7% during 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 in the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Align Technology by 201.7% during 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 in the last quarter. Institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ALGN shares. Morgan Stanley boosted their price objective on Align Technology from $169.00 to $188.00 and gave the company an “equal weight” rating in a report on Friday, April 24th. UBS Group boosted their price objective on Align Technology from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Stifel Nicolaus boosted their price objective on Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Wells Fargo & Company boosted their price objective on Align Technology from $181.00 to $200.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Finally, Leerink Partners upped their price target on Align Technology from $225.00 to $230.00 in a report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Align Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.85.

Align Technology Trading Down 2.3%

Shares of Align Technology stock opened at $155.16 on Wednesday. The stock has a fifty day simple moving average of $174.54 and a 200 day simple moving average of $166.85. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $208.30. The company has a market capitalization of $11.11 billion, a P/E ratio of 26.03, a price-to-earnings-growth ratio of 1.63 and a beta of 1.70.

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

Align Technology announced that its Board of Directors has initiated 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 management believes its stock is undervalued.

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.