Hussman Strategic Advisors Inc. Purchases Shares of 25,200 Align Technology, Inc. $ALGN

Hussman Strategic Advisors Inc. acquired a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 25,200 shares of the medical equipment provider’s stock, valued at approximately $3,156,000. Align Technology makes up 0.7% of Hussman Strategic Advisors Inc.’s investment portfolio, making the stock its 27th largest holding.

Several other large investors also recently made changes to their positions in ALGN. Truist Financial Corp grew its stake in shares of Align Technology by 57.3% in the third quarter. Truist Financial Corp now owns 6,650 shares of the medical equipment provider’s stock valued at $833,000 after buying an additional 2,423 shares in the last quarter. EFG Asset Management North America Corp. grew its position in shares of Align Technology by 67.7% in the 3rd quarter. EFG Asset Management North America Corp. now owns 19,451 shares of the medical equipment provider’s stock valued at $2,435,000 after acquiring an additional 7,852 shares during the period. Investment House LLC acquired a new position in shares of Align Technology during the 3rd quarter worth about $6,386,000. Y Intercept Hong Kong Ltd raised its holdings in shares of Align Technology by 80.2% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 36,541 shares of the medical equipment provider’s stock valued at $4,576,000 after purchasing an additional 16,260 shares during the period. Finally, Resona Asset Management Co. Ltd. raised its holdings in shares of Align Technology by 48.8% in the 3rd quarter. Resona Asset Management Co. Ltd. now owns 469,547 shares of the medical equipment provider’s stock valued at $58,977,000 after purchasing an additional 154,029 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ALGN shares. Mizuho lifted their price target on Align Technology from $170.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, January 20th. Morgan Stanley lifted their target price on Align Technology from $142.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Piper Sandler restated an “overweight” rating and issued a $200.00 price target (up previously from $190.00) on shares of Align Technology in a research note on Thursday, October 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a report on Thursday, October 30th. Finally, Zacks Research upgraded shares of Align Technology from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 30th. Six research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $176.82.

Align Technology Price Performance

ALGN stock opened at $167.04 on Wednesday. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $232.20. The stock has a market capitalization of $11.99 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 1.88 and a beta of 1.83. The business’s fifty day moving average price is $159.35 and its two-hundred day moving average price is $149.57.

Align Technology (NASDAQ:ALGN) last announced its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.23. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The company had revenue of $995.69 million during the quarter, compared to analysts’ expectations of $980.75 million. During the same quarter in the previous year, the business posted $2.35 earnings per share. Align Technology’s quarterly revenue was up 1.8% on a year-over-year basis. Research analysts expect that Align Technology, Inc. will post 7.98 EPS for the current year.

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.