Leonteq Securities AG Decreases Stock Holdings in Align Technology, Inc. $ALGN

Leonteq Securities AG reduced its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 45.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,052 shares of the medical equipment provider’s stock after selling 4,176 shares during the quarter. Leonteq Securities AG’s holdings in Align Technology were worth $866,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of ALGN. AIA Group Ltd purchased a new stake in Align Technology during the third quarter worth about $2,507,000. Sequoia Financial Advisors LLC raised its position in Align Technology by 320.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 7,986 shares of the medical equipment provider’s stock worth $1,247,000 after acquiring an additional 6,085 shares during the period. Clarkston Capital Partners LLC boosted its stake in Align Technology by 25.7% in the third quarter. Clarkston Capital Partners LLC now owns 141,215 shares of the medical equipment provider’s stock valued at $17,683,000 after acquiring an additional 28,850 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in 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 acquiring an additional 544,072 shares during the last quarter. Finally, Polianta Ltd bought a new position in shares of Align Technology during the 4th quarter valued at approximately $1,623,000. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of NASDAQ ALGN opened at $184.52 on Friday. Align Technology, Inc. has a 52 week low of $122.00 and a 52 week high of $208.30. The business has a 50-day simple moving average of $171.80 and a two-hundred day simple moving average of $173.02. The company has a market cap of $13.22 billion, a P/E ratio of 30.96, a P/E/G ratio of 1.89 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, April 29th. The medical equipment provider reported $2.58 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the business posted $2.13 earnings per share. The company’s revenue was up 6.2% on a year-over-year basis. Equities research analysts anticipate that Align Technology, Inc. will post 9.48 EPS for the current year.

Align Technology announced that its board has initiated a stock 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 repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ALGN. Weiss Ratings lowered shares of Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday, June 4th. Wall Street Zen upgraded Align Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Evercore increased their price objective on Align Technology from $200.00 to $220.00 in a report on Thursday, April 30th. Barclays raised Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 target price for the company in a research report on Tuesday, March 17th. Finally, Morgan Stanley boosted their target price on Align Technology from $169.00 to $188.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Align Technology presently has a consensus rating of “Moderate Buy” and an average 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.