Dimensional Fund Advisors LP Grows Holdings in Align Technology, Inc. $ALGN

Dimensional Fund Advisors LP lifted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 21.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 972,519 shares of the medical equipment provider’s stock after acquiring an additional 170,523 shares during the quarter. Dimensional Fund Advisors LP owned 1.36% of Align Technology worth $166,696,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Sunbelt Securities Inc. lifted its stake in Align Technology by 222.4% during the fourth quarter. Sunbelt Securities Inc. now owns 158 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 109 shares in the last quarter. Blue Trust Inc. increased its stake in Align Technology by 77.5% during the first quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock worth $27,000 after purchasing an additional 69 shares during the period. Independence Bank of Kentucky boosted its stake in shares of Align Technology by 77.7% in the fourth quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 80 shares during the period. Tobam acquired a new position in shares of Align Technology in the fourth quarter valued at approximately $30,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in Align Technology by 1,773.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 281 shares of the medical equipment provider’s stock worth $35,000 after buying an additional 266 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALGN. UBS Group reissued a “neutral” rating and issued a $189.00 price target on shares of Align Technology in a research report on Thursday. Wall Street Zen upgraded Align Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 4th. Zacks Research cut Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Evercore increased their price target on Align Technology from $200.00 to $220.00 in a research report on Thursday, April 30th. Finally, BMO Capital Markets assumed coverage on Align Technology in a research note on Wednesday, July 8th. They issued an “outperform” rating and a $209.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $206.36.

Align Technology Price Performance

NASDAQ:ALGN 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 firm has a market capitalization of $11.96 billion, a PE ratio of 28.02, a price-to-earnings-growth ratio of 1.71 and a beta of 1.67. The business’s fifty day moving average price is $173.31 and its 200 day moving average price is $175.01.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, April 29th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.32. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Align Technology had a return on equity of 15.82% and a net margin of 10.50%.Align Technology’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.13 EPS. As a group, equities analysts anticipate that Align Technology, Inc. will post 9.48 EPS 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are 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.