LSV Asset Management Makes New Investment in Align Technology, Inc. $ALGN

LSV Asset Management bought a new position in Align Technology, Inc. (NASDAQ:ALGN) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 529,142 shares of the medical equipment provider’s stock, valued at approximately $82,626,000. LSV Asset Management owned approximately 0.74% of Align Technology at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Evoke Wealth LLC bought a new stake in shares of Align Technology in the 4th quarter worth $235,000. Global Retirement Partners LLC increased its holdings in shares of Align Technology by 101.8% in the 4th quarter. Global Retirement Partners LLC now owns 230 shares of the medical equipment provider’s stock worth $36,000 after purchasing an additional 116 shares in the last quarter. Leonteq Securities AG bought a new stake in shares of Align Technology in the 4th quarter worth $1,441,000. Investment House LLC increased its holdings in shares of Align Technology by 61.0% in the 4th quarter. Investment House LLC now owns 82,117 shares of the medical equipment provider’s stock worth $12,823,000 after purchasing an additional 31,117 shares in the last quarter. Finally, Covestor Ltd increased its holdings in shares of Align Technology by 55.9% in the 4th quarter. Covestor Ltd now owns 1,035 shares of the medical equipment provider’s stock worth $162,000 after purchasing an additional 371 shares in the last quarter. Institutional investors own 88.43% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Weiss Ratings raised Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday. Jefferies Financial Group lifted their price objective on Align Technology from $155.00 to $185.00 and gave the stock a “hold” rating in a report on Thursday, February 5th. Leerink Partners lifted their price objective on Align Technology from $225.00 to $230.00 in a report on Thursday, April 30th. Barclays raised Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 price objective for the company in a report on Tuesday, March 17th. Finally, Citigroup assumed coverage on Align Technology in a report on Wednesday, April 15th. They issued a “buy” rating and a $240.00 price objective for the company. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $205.85.

Align Technology Stock Performance

NASDAQ:ALGN opened at $163.61 on Friday. The stock has a 50-day simple moving average of $173.96 and a two-hundred day simple moving average of $167.18. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $208.30. The firm has a market capitalization of $11.72 billion, a PE ratio of 27.45, a P/E/G ratio of 1.68 and a beta of 1.70.

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

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

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.