106,617 Shares in Align Technology, Inc. $ALGN Purchased by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc bought a new stake in Align Technology, Inc. (NASDAQ:ALGN) in the first quarter, Holdings Channel reports. The fund bought 106,617 shares of the medical equipment provider’s stock, valued at approximately $18,276,000.

Several other large investors have also recently bought and sold shares of ALGN. Banco Bilbao Vizcaya Argentaria S.A. increased its stake in Align Technology by 3.7% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,896 shares of the medical equipment provider’s stock valued at $296,000 after buying an additional 68 shares during the period. Comerica Bank lifted its stake in shares of Align Technology by 0.6% in the 4th quarter. Comerica Bank now owns 13,656 shares of the medical equipment provider’s stock worth $2,132,000 after acquiring an additional 76 shares during the period. Independence Bank of Kentucky boosted its holdings in shares of Align Technology by 77.7% in the fourth quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 80 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Align Technology by 3.3% in the third quarter. Allworth Financial LP now owns 2,874 shares of the medical equipment provider’s stock valued at $360,000 after acquiring an additional 92 shares in the last quarter. Finally, Royal London Asset Management Ltd. increased its stake in shares of Align Technology by 0.3% during the second quarter. Royal London Asset Management Ltd. now owns 31,629 shares of the medical equipment provider’s stock valued at $5,988,000 after acquiring an additional 93 shares during the period. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Stock Performance

NASDAQ:ALGN opened at $182.08 on Friday. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $208.30. The company has a 50-day moving average of $173.76 and a 200-day moving average of $171.74. The firm has a market cap of $13.04 billion, a price-to-earnings ratio of 30.55, a price-to-earnings-growth ratio of 1.87 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, April 29th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.32. Align Technology had a net margin of 10.50% and a return on equity of 15.82%. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the company posted $2.13 EPS. The business’s revenue was up 6.2% compared to the same quarter last year. On average, research analysts forecast that Align Technology, Inc. will post 9.48 earnings per share for the current year.

Align Technology declared that its board has initiated a stock buyback program on Wednesday, April 29th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the medical equipment provider to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Evercore boosted their target price on Align Technology from $200.00 to $220.00 in a report on Thursday, April 30th. Leerink Partners increased their price target on Align Technology from $225.00 to $230.00 in a research note on Thursday, April 30th. Piper Sandler lifted their price target on Align Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Weiss Ratings cut Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, June 4th. Finally, Wall Street Zen downgraded Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average 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.