Gabelli Funds LLC Purchases 4,000 Shares of Align Technology, Inc. $ALGN

Gabelli Funds LLC boosted its position in shares of Align Technology, Inc. (NASDAQ:ALGN) by 62.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,400 shares of the medical equipment provider’s stock after acquiring an additional 4,000 shares during the quarter. Gabelli Funds LLC’s holdings in Align Technology were worth $1,624,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. North Dakota State Investment Board bought a new stake in Align Technology during the fourth quarter worth $367,000. Canada Post Corp Registered Pension Plan increased its position in Align Technology by 38.0% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 1,308 shares of the medical equipment provider’s stock worth $204,000 after acquiring an additional 360 shares during the period. Northwestern Mutual Wealth Management Co. increased its position in Align Technology by 35,513.8% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 545,604 shares of the medical equipment provider’s stock worth $85,196,000 after acquiring an additional 544,072 shares during the period. PAX Financial Group LLC increased its position in Align Technology by 30.1% during the fourth quarter. PAX Financial Group LLC now owns 2,718 shares of the medical equipment provider’s stock worth $424,000 after acquiring an additional 629 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in Align Technology by 306.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 12,909 shares of the medical equipment provider’s stock worth $2,016,000 after acquiring an additional 9,730 shares during the period. 88.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ALGN shares. Evercore increased their price objective on shares of Align Technology from $200.00 to $220.00 in a research note on Thursday, April 30th. Jefferies Financial Group raised their price target 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. UBS Group raised their price target 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. Stifel Nicolaus raised their price target on shares of Align Technology from $200.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Finally, Weiss Ratings upgraded shares of Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $205.85.

Align Technology Stock Up 0.3%

NASDAQ:ALGN opened at $163.61 on Friday. The company has a fifty day moving average of $173.96 and a 200-day moving average of $167.18. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $208.30. The firm has a market capitalization of $11.72 billion, a P/E ratio of 27.45, a P/E/G ratio of 1.67 and a beta of 1.70.

Align Technology (NASDAQ:ALGN) last posted its quarterly 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. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. Align Technology had a net margin of 10.50% and a return on equity of 15.82%. Align Technology’s revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.13 EPS. On average, analysts anticipate that Align Technology, Inc. will post 9.48 EPS for the current fiscal year.

Align Technology announced that its Board of Directors has authorized a stock buyback plan on Wednesday, April 29th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the medical equipment provider to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.