4,243 Shares in Align Technology, Inc. $ALGN Acquired by Inceptionr LLC

Inceptionr LLC purchased a new stake in Align Technology, Inc. (NASDAQ:ALGN) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,243 shares of the medical equipment provider’s stock, valued at approximately $727,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sequoia Financial Advisors LLC increased its position in 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 acquiring an additional 6,085 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Align Technology by 35,513.8% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 545,604 shares of the medical equipment provider’s stock worth $85,196,000 after purchasing an additional 544,072 shares in the last quarter. Polianta Ltd bought a new stake in Align Technology in the 4th quarter valued at about $1,623,000. Wealth Enhancement Advisory Services LLC boosted its holdings in Align Technology by 63.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 25,343 shares of the medical equipment provider’s stock valued at $4,282,000 after purchasing an additional 9,792 shares during the period. Finally, Hunter Perkins Capital Management LLC grew its position in shares of Align Technology by 383.1% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 43,842 shares of the medical equipment provider’s stock worth $6,846,000 after purchasing an additional 34,767 shares in the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Stock Down 0.7%

Shares of Align Technology stock opened at $167.01 on Friday. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $208.30. The company has a market capitalization of $11.96 billion, a price-to-earnings ratio of 28.02, a PEG ratio of 1.72 and a beta of 1.67. The firm’s 50-day moving average price is $173.31 and its two-hundred day moving average price is $175.01.

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

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALGN. Citigroup assumed coverage on shares of Align Technology in a report on Wednesday, April 15th. They set a “buy” rating and a $240.00 target price on the stock. Weiss Ratings upgraded Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 17th. Morgan Stanley increased their price target on Align Technology from $169.00 to $188.00 and gave the stock an “equal weight” rating in a research report on Friday, April 24th. Leerink Partners raised their price objective on Align Technology from $225.00 to $230.00 in a research note on Thursday, April 30th. Finally, Zacks Research lowered Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $206.36.

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.