Hussman Strategic Advisors Inc. Takes Position in Align Technology, Inc. $ALGN

Hussman Strategic Advisors Inc. acquired a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 25,200 shares of the medical equipment provider’s stock, valued at approximately $3,156,000. Align Technology comprises about 0.7% of Hussman Strategic Advisors Inc.’s portfolio, making the stock its 27th biggest holding.

Several other large investors have also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Align Technology by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock worth $1,624,000 after purchasing an additional 469 shares in the last quarter. Focus Partners Wealth raised its stake in Align Technology by 5.2% during the 1st quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock worth $486,000 after buying an additional 151 shares during the period. Sivia Capital Partners LLC bought a new position in Align Technology during the second quarter worth about $204,000. Farther Finance Advisors LLC grew its stake in Align Technology by 42.2% in the second quarter. Farther Finance Advisors LLC now owns 310 shares of the medical equipment provider’s stock valued at $59,000 after acquiring an additional 92 shares during the period. Finally, Park Avenue Securities LLC grew its stake in Align Technology by 11.2% in the second quarter. Park Avenue Securities LLC now owns 2,668 shares of the medical equipment provider’s stock valued at $505,000 after acquiring an additional 269 shares during the period. Institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ALGN shares. HSBC raised their price target on Align Technology from $140.00 to $150.00 in a research report on Friday, October 31st. Morgan Stanley lifted their price target on shares of Align Technology from $142.00 to $154.00 and gave the company an “equal weight” rating in a research note on Thursday, October 30th. Wells Fargo & Company lowered their price objective on shares of Align Technology from $199.00 to $181.00 and set an “overweight” rating for the company in a research report on Thursday, October 30th. Jefferies Financial Group raised their price objective on shares of Align Technology from $140.00 to $155.00 in a report on Thursday, October 30th. Finally, Mizuho upped their target price on shares of Align Technology from $170.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 20th. Six investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $176.82.

Align Technology Stock Down 0.4%

Shares of ALGN stock opened at $167.04 on Wednesday. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $232.20. The company’s fifty day simple moving average is $159.35 and its 200-day simple moving average is $149.57. The firm has a market cap of $11.99 billion, a PE ratio of 32.37, a P/E/G ratio of 1.88 and a beta of 1.83.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.23. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The business had revenue of $995.69 million during the quarter, compared to the consensus estimate of $980.75 million. During the same quarter last year, the firm earned $2.35 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities analysts predict that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

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.