Janus Henderson Group PLC Sells 10,504 Shares of Align Technology, Inc. $ALGN

Janus Henderson Group PLC lowered its stake in Align Technology, Inc. (NASDAQ:ALGN) by 25.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,791 shares of the medical equipment provider’s stock after selling 10,504 shares during the period. Janus Henderson Group PLC’s holdings in Align Technology were worth $5,281,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sunbelt Securities Inc. increased its holdings in shares of 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 buying an additional 109 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Align Technology by 77.5% during the 1st quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock valued at $27,000 after acquiring an additional 69 shares in the last quarter. Tobam acquired a new stake in shares of Align Technology during the 4th quarter valued at $30,000. Hollencrest Capital Management bought a new stake in Align Technology during the 1st quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd grew its position 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 acquiring an additional 266 shares during the last quarter. Institutional investors own 88.43% of the company’s stock.

Align Technology Trading Down 3.3%

NASDAQ ALGN opened at $169.08 on Friday. The firm has a market capitalization of $12.11 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 1.86 and a beta of 1.65. The business’s 50-day moving average price is $175.09 and its two-hundred day moving average price is $175.28. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $200.43.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.62 by $0.02. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.05 billion. Align Technology had a return on equity of 15.86% and a net margin of 9.99%.The firm’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the company earned $2.49 earnings per share. As a group, analysts forecast that Align Technology, Inc. will post 9.38 earnings per share for the current fiscal year.

Align Technology declared that its Board of Directors has initiated a share buyback program on Wednesday, April 29th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the medical equipment provider to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

ALGN has been the subject of several research reports. Evercore increased their target price on Align Technology from $200.00 to $220.00 in a research report on Thursday, April 30th. Wall Street Zen cut Align Technology from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 1st. Citigroup started coverage on shares of Align Technology in a report on Wednesday, April 15th. They issued a “buy” rating and a $240.00 price objective for the company. UBS Group reiterated a “neutral” rating and set a $189.00 target price on shares of Align Technology in a research report on Thursday, July 23rd. Finally, Leerink Partners boosted their target price on shares of Align Technology from $225.00 to $230.00 in a report on Thursday, April 30th. One research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.