Yousif Capital Management LLC Has $1.65 Million Stake in Align Technology, Inc. (NASDAQ:ALGN)

Yousif Capital Management LLC reduced its stake in Align Technology, Inc. (NASDAQ:ALGN) by 0.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,378 shares of the medical equipment provider’s stock after selling 76 shares during the period. Yousif Capital Management LLC’s holdings in Align Technology were worth $1,649,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ALGN. Covestor Ltd grew its stake in shares of Align Technology by 14.6% in the fourth quarter. Covestor Ltd now owns 415 shares of the medical equipment provider’s stock valued at $87,000 after acquiring an additional 53 shares in the last quarter. Picton Mahoney Asset Management grew its stake in Align Technology by 69.9% during the fourth quarter. Picton Mahoney Asset Management now owns 141 shares of the medical equipment provider’s stock worth $30,000 after buying an additional 58 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Align Technology by 9.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 766 shares of the medical equipment provider’s stock worth $158,000 after buying an additional 64 shares in the last quarter. New York Life Investment Management LLC grew its stake in Align Technology by 0.7% during the fourth quarter. New York Life Investment Management LLC now owns 9,406 shares of the medical equipment provider’s stock worth $1,961,000 after buying an additional 68 shares in the last quarter. Finally, Fulcrum Capital LLC grew its stake in Align Technology by 0.8% during the first quarter. Fulcrum Capital LLC now owns 9,282 shares of the medical equipment provider’s stock worth $1,475,000 after buying an additional 70 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Trading Up 2.6%

NASDAQ:ALGN opened at $182.52 on Tuesday. The company has a 50-day moving average price of $177.45 and a 200-day moving average price of $192.30. Align Technology, Inc. has a 12 month low of $141.74 and a 12 month high of $263.24. The stock has a market cap of $13.23 billion, a price-to-earnings ratio of 32.53, a P/E/G ratio of 2.24 and a beta of 1.64.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings results on Wednesday, April 30th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.13. Align Technology had a net margin of 10.54% and a return on equity of 13.84%. The company had revenue of $979.26 million during the quarter, compared to analysts’ expectations of $977.90 million. During the same period last year, the company posted $2.14 EPS. Align Technology’s revenue was down 1.8% on a year-over-year basis. Equities analysts forecast that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Align Technology declared that its board has authorized a share buyback program on Tuesday, May 6th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the medical equipment provider to repurchase up to 7.9% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

ALGN has been the topic of a number of research analyst reports. UBS Group cut their target price on shares of Align Technology from $240.00 to $215.00 and set a “neutral” rating on the stock in a research report on Thursday, April 24th. Mizuho cut their target price on shares of Align Technology from $250.00 to $245.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 29th. Piper Sandler restated an “overweight” rating and issued a $250.00 target price (up previously from $235.00) on shares of Align Technology in a research report on Thursday, May 1st. Wells Fargo & Company cut their target price on shares of Align Technology from $255.00 to $246.00 and set an “overweight” rating on the stock in a research report on Thursday, May 1st. Finally, Evercore ISI raised their target price on shares of Align Technology from $165.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, May 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $241.25.

Align Technology Profile

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.