Leonteq Securities AG Makes New Investment in Align Technology, Inc. $ALGN

Leonteq Securities AG bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 9,228 shares of the medical equipment provider’s stock, valued at approximately $1,441,000.

Several other large investors also recently bought and sold shares of the stock. Investment House LLC grew its position in Align Technology by 61.0% during the 4th quarter. Investment House LLC now owns 82,117 shares of the medical equipment provider’s stock worth $12,823,000 after purchasing an additional 31,117 shares during the last quarter. Covestor Ltd grew its position in Align Technology by 55.9% during the 4th quarter. Covestor Ltd now owns 1,035 shares of the medical equipment provider’s stock worth $162,000 after purchasing an additional 371 shares during the last quarter. Handelsbanken Fonder AB grew its position in Align Technology by 9.2% during the 4th quarter. Handelsbanken Fonder AB now owns 23,693 shares of the medical equipment provider’s stock worth $3,700,000 after purchasing an additional 1,993 shares during the last quarter. ProShare Advisors LLC grew its position in Align Technology by 5.7% during the 4th quarter. ProShare Advisors LLC now owns 13,047 shares of the medical equipment provider’s stock worth $2,037,000 after purchasing an additional 709 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Align Technology during the 4th quarter worth approximately $254,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

ALGN opened at $163.04 on Friday. The firm has a fifty day moving average price of $174.18 and a 200 day moving average price of $167.20. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $208.30. The stock has a market cap of $11.68 billion, a P/E ratio of 27.36, a P/E/G ratio of 1.67 and a beta of 1.70.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, April 29th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.32. Align Technology had a net margin of 10.50% and a return on equity of 15.82%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the business posted $2.13 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. Equities analysts expect that Align Technology, Inc. will post 9.48 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ALGN. Piper Sandler boosted their target price on shares of Align Technology from $220.00 to $235.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Robert W. Baird set a $218.00 target price on shares of Align Technology in a research report on Thursday, February 5th. Mizuho lifted their price objective on shares of Align Technology from $200.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, February 5th. UBS Group lifted their price objective on shares of Align Technology from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, February 5th. Finally, Jefferies Financial Group lifted their price objective on shares of Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, February 5th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.85.

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.