Van Lanschot Kempen Investment Management N.V. Raises Stock Holdings in Align Technology, Inc. $ALGN

Van Lanschot Kempen Investment Management N.V. lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 153.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,699 shares of the medical equipment provider’s stock after purchasing an additional 137,261 shares during the quarter. Van Lanschot Kempen Investment Management N.V.’s holdings in Align Technology were worth $35,399,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dana Investment Advisors Inc. purchased a new position in shares of Align Technology during the third quarter worth about $9,991,000. AIA Group Ltd purchased a new position in shares of Align Technology during the third quarter worth about $2,507,000. Sequoia Financial Advisors LLC grew its holdings in shares of Align Technology by 320.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 7,986 shares of the medical equipment provider’s stock worth $1,247,000 after purchasing an additional 6,085 shares in the last quarter. Clarkston Capital Partners LLC grew its holdings in shares of Align Technology by 25.7% during the third quarter. Clarkston Capital Partners LLC now owns 141,215 shares of the medical equipment provider’s stock worth $17,683,000 after purchasing an additional 28,850 shares in the last quarter. Finally, M&G PLC purchased a new position in shares of Align Technology during the third quarter worth about $10,904,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

NASDAQ:ALGN opened at $174.84 on Friday. The business has a 50 day moving average of $172.98 and a 200 day moving average of $170.60. The company has a market capitalization of $12.52 billion, a price-to-earnings ratio of 29.34, a PEG ratio of 1.81 and a beta of 1.67. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30.

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

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

Analyst Ratings Changes

A number of research firms recently weighed in on ALGN. Citigroup began coverage on Align Technology in a research report on Wednesday, April 15th. They issued a “buy” rating and a $240.00 target price for the company. Leerink Partners boosted their target price on Align Technology from $225.00 to $230.00 in a research report on Thursday, April 30th. Evercore boosted their target price on Align Technology from $200.00 to $220.00 in a research report on Thursday, April 30th. Piper Sandler boosted their target price on Align Technology from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Finally, Barclays upgraded Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 target price for the company in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.