Capital International Ltd. CA Has $8.93 Million Stock Position in Align Technology, Inc. $ALGN

Capital International Ltd. CA lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 26.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,194 shares of the medical equipment provider’s stock after purchasing an additional 11,977 shares during the quarter. Capital International Ltd. CA’s holdings in Align Technology were worth $8,931,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Align Technology by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 8,301,611 shares of the medical equipment provider’s stock worth $1,039,528,000 after purchasing an additional 58,546 shares during the last quarter. Capital International Investors increased its stake in shares of Align Technology by 52.2% during the 4th quarter. Capital International Investors now owns 4,643,221 shares of the medical equipment provider’s stock worth $725,039,000 after purchasing an additional 1,592,848 shares during the last quarter. Invesco Ltd. increased its stake in shares of Align Technology by 37.4% during the 3rd quarter. Invesco Ltd. now owns 1,497,535 shares of the medical equipment provider’s stock worth $187,521,000 after purchasing an additional 407,559 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of Align Technology during the 3rd quarter worth $179,035,000. Finally, Bank of America Corp DE increased its stake in shares of Align Technology by 72.0% during the 3rd quarter. Bank of America Corp DE now owns 1,353,125 shares of the medical equipment provider’s stock worth $169,438,000 after purchasing an additional 566,488 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analyst Ratings Changes

ALGN has been the topic of a number of research analyst reports. Leerink Partners raised their target price on shares of Align Technology from $225.00 to $230.00 in a research note on Thursday, April 30th. Morgan Stanley raised their target price on shares of Align Technology from $169.00 to $188.00 and gave the company an “equal weight” rating in a research note on Friday, April 24th. Evercore raised their target price on shares of Align Technology from $200.00 to $220.00 in a research note on Thursday, April 30th. Weiss Ratings lowered shares of Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. Finally, Zacks Research upgraded shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 1st. One 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.85.

Align Technology Price Performance

Shares of Align Technology stock opened at $167.74 on Friday. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $208.30. The firm has a fifty day moving average price of $172.63 and a two-hundred day moving average price of $169.22. The company has a market cap of $12.01 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.72 and a beta of 1.67.

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

Align Technology declared that its board has approved a share repurchase program on Wednesday, April 29th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the medical equipment provider to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are 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.