Align Technology, Inc. $ALGN Shares Bought by WINTON GROUP Ltd

WINTON GROUP Ltd lifted its position in Align Technology, Inc. (NASDAQ:ALGN) by 574.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,117 shares of the medical equipment provider’s stock after acquiring an additional 40,131 shares during the quarter. WINTON GROUP Ltd’s holdings in Align Technology were worth $7,357,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Comerica Bank lifted its holdings 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 purchasing an additional 76 shares during the last quarter. Sentry Investment Management LLC lifted its holdings in shares of Align Technology by 73.1% in the 3rd quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 79 shares during the last quarter. Independence Bank of Kentucky lifted its holdings in shares of Align Technology by 77.7% in the 4th quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock worth $29,000 after purchasing an additional 80 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Align Technology by 3.3% in the 3rd quarter. Allworth Financial LP now owns 2,874 shares of the medical equipment provider’s stock worth $360,000 after purchasing an additional 92 shares during the last quarter. Finally, Royal London Asset Management Ltd. lifted its holdings in shares of Align Technology by 0.3% in the 2nd quarter. Royal London Asset Management Ltd. now owns 31,629 shares of the medical equipment provider’s stock worth $5,988,000 after purchasing an additional 93 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of Align Technology stock opened at $167.74 on Friday. The business’s fifty day moving average price is $172.63 and its two-hundred day moving average price is $169.22. The company has a market capitalization of $12.01 billion, a P/E ratio of 28.14, a PEG ratio of 1.72 and a beta of 1.67. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30.

Align Technology (NASDAQ:ALGN) last announced its 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. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.02 billion. Align Technology had a return on equity of 15.82% and a net margin of 10.50%.The firm’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.13 EPS. On average, 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 authorized a stock repurchase plan on Wednesday, April 29th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the medical equipment provider to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ALGN. Zacks Research raised Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, June 1st. Leerink Partners raised their price target on Align Technology from $225.00 to $230.00 in a report on Thursday, April 30th. Citigroup began coverage on Align Technology in a report on Wednesday, April 15th. They issued a “buy” rating and a $240.00 price target on the stock. Wall Street Zen raised Align Technology from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 7th. Finally, Weiss Ratings downgraded Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.