J. Safra Sarasin Holding AG Purchases Shares of 6,212 Align Technology, Inc. $ALGN

J. Safra Sarasin Holding AG acquired a new position in Align Technology, Inc. (NASDAQ:ALGN) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,212 shares of the medical equipment provider’s stock, valued at approximately $1,065,000.

A number of other large investors have also modified their holdings of the company. Sunbelt Securities Inc. raised its stake in Align Technology by 222.4% during the fourth quarter. Sunbelt Securities Inc. now owns 158 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 109 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Align Technology by 77.5% in the 1st quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 69 shares in the last quarter. Independence Bank of Kentucky boosted its stake in shares of Align Technology by 77.7% in the 4th quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 80 shares in the last quarter. Tobam bought a new stake in shares of Align Technology in the 4th quarter worth about $30,000. Finally, Miller Global Investments LLC acquired a new stake in shares of Align Technology during the 4th quarter worth about $31,000. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on ALGN. Leerink Partners upped their price objective on shares of Align Technology from $225.00 to $230.00 in a research note 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 report on Tuesday, April 21st. Barclays upgraded Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 price target on the stock in a research report on Tuesday, March 17th. Evercore raised their price target on Align Technology from $200.00 to $220.00 in a report on Thursday, April 30th. Finally, Zacks Research upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 1st. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.07.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $178.46 on Wednesday. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $208.30. The firm has a market capitalization of $12.78 billion, a P/E ratio of 29.94, a P/E/G ratio of 1.85 and a beta of 1.67. The company’s 50 day simple moving average is $171.79 and its 200 day simple moving average is $174.15.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, April 29th. The medical equipment provider reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.32. The firm had revenue of $1.04 billion during 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 business’s quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.13 EPS. Sell-side analysts expect that Align Technology, Inc. will post 9.48 EPS for the current fiscal year.

Align Technology declared that its board has authorized a stock repurchase program on Wednesday, April 29th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the medical equipment provider to reacquire up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.