Leonteq Securities AG Sells 4,176 Shares of Align Technology, Inc. $ALGN

Leonteq Securities AG trimmed its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 45.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,052 shares of the medical equipment provider’s stock after selling 4,176 shares during the quarter. Leonteq Securities AG’s holdings in Align Technology were worth $866,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. AIA Group Ltd bought a new stake in shares of Align Technology during the 3rd quarter valued at about $2,507,000. Sequoia Financial Advisors LLC increased its position in shares of Align Technology by 320.1% in the fourth quarter. Sequoia Financial Advisors LLC now owns 7,986 shares of the medical equipment provider’s stock worth $1,247,000 after purchasing an additional 6,085 shares during the last quarter. Clarkston Capital Partners LLC raised its stake in Align Technology by 25.7% in the third quarter. Clarkston Capital Partners LLC now owns 141,215 shares of the medical equipment provider’s stock valued at $17,683,000 after purchasing an additional 28,850 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Align Technology by 35,513.8% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 545,604 shares of the medical equipment provider’s stock valued at $85,196,000 after purchasing an additional 544,072 shares in the last quarter. Finally, Polianta Ltd bought a new stake in Align Technology during the fourth quarter valued at approximately $1,623,000. 88.43% of the stock is currently owned by institutional investors.

Align Technology Price Performance

Shares of ALGN opened at $184.52 on Friday. The firm has a market cap of $13.22 billion, a P/E ratio of 30.96, a P/E/G ratio of 1.89 and a beta of 1.67. The stock has a 50 day simple moving average of $171.80 and a two-hundred day simple moving average of $173.02. Align Technology, Inc. has a 1 year low of $122.00 and a 1 year high of $208.30.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, April 29th. The medical equipment provider reported $2.58 EPS for the quarter, topping 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 business’s revenue was up 6.2% compared to the same quarter last year. During the same period last year, the firm posted $2.13 earnings per share. On average, equities analysts anticipate that Align Technology, Inc. will post 9.48 earnings per share for the current year.

Align Technology declared that its Board of Directors has approved a share repurchase 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 generally an indication that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have commented on ALGN. Wall Street Zen raised shares of Align Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Evercore raised their price objective on shares of Align Technology from $200.00 to $220.00 in a research report on Thursday, April 30th. Weiss Ratings downgraded shares of Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, June 4th. Barclays upgraded shares of Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 target price for the company in a research report on Tuesday, March 17th. Finally, Zacks Research raised 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 issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock 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.