LRT Capital Management LLC Has $2.05 Million Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

LRT Capital Management LLC lowered its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,831 shares of the medical equipment provider’s stock after selling 579 shares during the quarter. Align Technology accounts for about 1.6% of LRT Capital Management LLC’s investment portfolio, making the stock its 19th biggest holding. LRT Capital Management LLC’s holdings in Align Technology were worth $2,050,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management grew its holdings in shares of Align Technology by 69.9% in the 4th quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock valued at $30,000 after buying an additional 58 shares during the period. GKV Capital Management Co. Inc. bought a new position in Align Technology during the fourth quarter worth about $31,000. Aster Capital Management DIFC Ltd bought a new position in Align Technology during the fourth quarter worth about $35,000. Private Trust Co. NA grew its stake in Align Technology by 113.4% in the fourth quarter. Private Trust Co. NA now owns 175 shares of the medical equipment provider’s stock valued at $36,000 after acquiring an additional 93 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Align Technology in the fourth quarter worth about $52,000. Institutional investors own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ALGN shares. Hsbc Global Res lowered Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 25th. Piper Sandler reiterated an “overweight” rating and issued a $250.00 price target (up previously from $235.00) on shares of Align Technology in a report on Thursday, May 1st. Needham & Company LLC reissued a “hold” rating on shares of Align Technology in a research report on Thursday, May 1st. Morgan Stanley dropped their price objective on shares of Align Technology from $280.00 to $272.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Finally, HSBC lowered shares of Align Technology from a “buy” rating to a “hold” rating and reduced their target price for the stock from $290.00 to $170.00 in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $241.25.

Align Technology Stock Performance

NASDAQ:ALGN opened at $181.81 on Monday. Align Technology, Inc. has a 52-week low of $141.74 and a 52-week high of $283.00. The company has a market cap of $13.31 billion, a P/E ratio of 32.41, a P/E/G ratio of 2.24 and a beta of 1.68. The stock’s 50-day simple moving average is $167.96 and its 200 day simple moving average is $199.61.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, April 30th. The medical equipment provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.13. The firm had revenue of $979.26 million for the quarter, compared to analyst estimates of $977.90 million. Align Technology had a return on equity of 13.84% and a net margin of 10.54%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.14 EPS. As a group, equities analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Align Technology declared that its Board of Directors has authorized a share repurchase program on Tuesday, May 6th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the medical equipment provider to reacquire up to 7.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.