Capital International Sarl Acquires 26,482 Shares of Align Technology, Inc. $ALGN

Capital International Sarl grew its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 33.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 106,343 shares of the medical equipment provider’s stock after acquiring an additional 26,482 shares during the period. Capital International Sarl owned 0.15% of Align Technology worth $16,605,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ALGN. Sentry Investment Management LLC raised its position in Align Technology by 73.1% in the third quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 79 shares during the period. Independence Bank of Kentucky raised its position in Align Technology by 77.7% in the fourth quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 80 shares during the period. Miller Global Investments LLC bought a new position in Align Technology in the fourth quarter worth approximately $31,000. JFS Wealth Advisors LLC raised its position in Align Technology by 2,016.7% in the third quarter. JFS Wealth Advisors LLC now owns 254 shares of the medical equipment provider’s stock worth $32,000 after acquiring an additional 242 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its position in Align Technology by 1,773.3% in the third quarter. Caitong International Asset Management Co. Ltd now owns 281 shares of the medical equipment provider’s stock worth $35,000 after acquiring an additional 266 shares during the period. 88.43% of the stock is currently owned by institutional investors.

Align Technology Price Performance

Shares of ALGN stock opened at $167.74 on Friday. The company has a market capitalization of $12.01 billion, a price-to-earnings ratio of 28.14, a PEG ratio of 1.72 and a beta of 1.67. Align Technology, Inc. has a one year low of $122.00 and a one year high of $208.30. The company’s fifty day moving average price is $172.63 and its 200-day moving average price is $169.22.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, April 29th. The medical equipment provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.26 by $0.32. The firm had revenue of $1.04 billion for 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%. The company’s revenue was up 6.2% on a year-over-year basis. During the same period last year, the firm earned $2.13 EPS. Equities research analysts expect that Align Technology, Inc. will post 9.48 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Evercore raised their price objective on shares of Align Technology from $200.00 to $220.00 in a research report on Thursday, April 30th. Morgan Stanley raised their price objective on shares of Align Technology from $169.00 to $188.00 and gave the company an “equal weight” rating in a research report on Friday, April 24th. Leerink Partners raised their price objective on shares of Align Technology from $225.00 to $230.00 in a research report on Thursday, April 30th. Citigroup assumed coverage on shares of Align Technology in a research report on Wednesday, April 15th. They set a “buy” rating and a $240.00 price objective on the stock. Finally, Barclays upgraded shares of Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 price objective on the stock in a research report on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Align Technology has an average rating of “Moderate Buy” and an average price target of $205.85.

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.