Align Technology, Inc. $ALGN Shares Bought by WINTON GROUP Ltd

WINTON GROUP Ltd increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 574.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,117 shares of the medical equipment provider’s stock after buying an additional 40,131 shares during the quarter. WINTON GROUP Ltd owned about 0.07% of Align Technology worth $7,357,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of ALGN. Capital International Investors grew its stake in shares of Align Technology by 88.6% in the third quarter. Capital International Investors now owns 3,050,373 shares of the medical equipment provider’s stock valued at $381,968,000 after buying an additional 1,433,393 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of Align Technology in the third quarter valued at about $179,035,000. Norges Bank acquired a new stake in shares of Align Technology in the fourth quarter valued at about $155,556,000. Bank of America Corp DE grew its stake in shares of Align Technology by 72.0% in the third quarter. Bank of America Corp DE now owns 1,353,125 shares of the medical equipment provider’s stock valued at $169,438,000 after buying an additional 566,488 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Align Technology by 35,513.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 545,604 shares of the medical equipment provider’s stock valued at $85,196,000 after buying an additional 544,072 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Down 0.3%

Shares of NASDAQ ALGN opened at $167.74 on Friday. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $208.30. The business has a 50 day moving average price of $172.63 and a two-hundred day moving average price of $169.22. The firm has a market cap of $12.01 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.72 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last issued its quarterly earnings data on Wednesday, April 29th. The medical equipment provider reported $2.58 earnings per share for the quarter, beating analysts’ consensus estimates of $2.26 by $0.32. Align Technology had a return on equity of 15.82% and a net margin of 10.50%.The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm earned $2.13 EPS. Align Technology’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts anticipate that Align Technology, Inc. will post 9.48 earnings per share for the current year.

Align Technology announced that its Board of Directors has authorized a share repurchase plan 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 plans are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

ALGN has been the subject of a number of recent research reports. Wall Street Zen upgraded Align Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 7th. Citigroup initiated coverage on Align Technology in a research note on Wednesday, April 15th. They issued a “buy” rating and a $240.00 target price for the company. Zacks Research upgraded Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 1st. Piper Sandler increased their target price on Align Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings lowered Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.85.

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.