20,700 Shares in Align Technology, Inc. $ALGN Purchased by Militia Capital Management LLC

Militia Capital Management LLC bought a new stake in Align Technology, Inc. (NASDAQ:ALGN) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 20,700 shares of the medical equipment provider’s stock, valued at approximately $3,549,000. Align Technology accounts for 0.8% of Militia Capital Management LLC’s investment portfolio, making the stock its 29th biggest position.

A number of other institutional investors have also made changes to their positions in ALGN. Capital International Investors lifted its holdings in shares of Align Technology by 52.2% in the 4th quarter. Capital International Investors now owns 4,643,221 shares of the medical equipment provider’s stock worth $725,039,000 after acquiring an additional 1,592,848 shares during the last quarter. Ruane Cunniff & Goldfarb L.P. purchased a new position in shares of Align Technology during the 4th quarter worth approximately $190,899,000. Norges Bank acquired a new stake in Align Technology in the 4th quarter valued at approximately $155,556,000. Assenagon Asset Management S.A. increased its holdings in Align Technology by 413.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 989,388 shares of the medical equipment provider’s stock valued at $169,611,000 after purchasing an additional 796,529 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Align Technology by 247.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,005,413 shares of the medical equipment provider’s stock valued at $156,995,000 after purchasing an additional 715,919 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have commented on ALGN shares. Evercore upped their price target on Align Technology from $200.00 to $220.00 in a research note on Thursday, April 30th. Zacks Research cut Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Weiss Ratings upgraded Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 17th. Leerink Partners increased their target price on Align Technology from $225.00 to $230.00 in a research note on Thursday, April 30th. Finally, Morgan Stanley increased their target price on Align Technology from $169.00 to $188.00 and gave the stock an “equal weight” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $206.07.

Align Technology Stock Down 2.8%

Shares of ALGN opened at $172.46 on Thursday. The company has a market cap of $12.35 billion, a P/E ratio of 28.94, a PEG ratio of 1.82 and a beta of 1.67. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $208.30. The firm’s 50 day moving average price is $172.96 and its 200 day moving average price is $174.98.

Align Technology (NASDAQ:ALGN) last issued its quarterly 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. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Align Technology had a net margin of 10.50% and a return on equity of 15.82%. The firm’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.13 EPS. Research analysts forecast that Align Technology, Inc. will post 9.48 earnings per share for the current year.

Align Technology declared that its board has initiated a share buyback plan on Wednesday, April 29th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the medical equipment provider to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is 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.