TD Asset Management Inc Has $22.78 Million Stock Holdings in Align Technology, Inc. $ALGN

TD Asset Management Inc decreased its position in Align Technology, Inc. (NASDAQ:ALGN) by 23.3% during the 4th quarter, HoldingsChannel reports. The fund owned 145,900 shares of the medical equipment provider’s stock after selling 44,220 shares during the quarter. TD Asset Management Inc’s holdings in Align Technology were worth $22,782,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Dana Investment Advisors Inc. bought a new stake in Align Technology in the third quarter valued at approximately $9,991,000. AIA Group Ltd bought a new position in shares of Align Technology during the 3rd quarter worth approximately $2,507,000. Sequoia Financial Advisors LLC boosted its stake in shares of Align Technology by 320.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 7,986 shares of the medical equipment provider’s stock worth $1,247,000 after acquiring an additional 6,085 shares during the period. Clarkston Capital Partners LLC increased its holdings in shares of Align Technology by 25.7% during the 3rd quarter. Clarkston Capital Partners LLC now owns 141,215 shares of the medical equipment provider’s stock worth $17,683,000 after acquiring an additional 28,850 shares during the last quarter. Finally, M&G PLC acquired a new position in shares of Align Technology during the 3rd quarter worth approximately $10,904,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Performance

NASDAQ:ALGN opened at $167.74 on Monday. The stock has a 50 day simple moving average of $172.63 and a 200 day simple moving average of $169.48. The stock has a market cap of $12.01 billion, a P/E ratio of 28.14, a PEG ratio of 1.72 and a beta of 1.68. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, April 29th. The medical equipment provider reported $2.58 EPS 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 analyst estimates of $1.02 billion. Align Technology had a return on equity of 15.82% and a net margin of 10.50%.The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.13 EPS. As a group, sell-side analysts forecast that Align Technology, Inc. will post 9.48 EPS for the current year.

Align Technology declared that its board has approved a share repurchase program on Wednesday, April 29th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the medical equipment provider to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have issued reports on ALGN. Evercore raised their price target on Align Technology from $200.00 to $220.00 in a report on Thursday, April 30th. Citigroup began coverage on shares of Align Technology in a report on Wednesday, April 15th. They issued a “buy” rating and a $240.00 price objective on the stock. Weiss Ratings lowered shares of Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Morgan Stanley raised their target price on shares of Align Technology from $169.00 to $188.00 and gave the stock an “equal weight” rating in a research note on Friday, April 24th. Finally, Zacks Research raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $205.85.

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.