Align Technology, Inc. $ALGN Stock: Yousif Capital Management LLC Increases Stake

Yousif Capital Management LLC boosted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 1,356.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 132,445 shares of the medical equipment provider’s stock after acquiring an additional 123,354 shares during the period. Yousif Capital Management LLC’s holdings in Align Technology were worth $17,648,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in Align Technology during the second quarter valued at $745,370,000. Assenagon Asset Management S.A. raised its stake in shares of Align Technology by 638.7% in the third quarter. Assenagon Asset Management S.A. now owns 4,662,437 shares of the medical equipment provider’s stock valued at $629,469,000 after buying an additional 4,031,284 shares during the period. Vontobel Holding Ltd. lifted its position in shares of Align Technology by 69,628.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,385,513 shares of the medical equipment provider’s stock valued at $183,335,000 after buying an additional 1,383,526 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Align Technology by 4.9% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,054,633 shares of the medical equipment provider’s stock valued at $180,796,000 after buying an additional 49,220 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Align Technology by 21.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 972,519 shares of the medical equipment provider’s stock valued at $166,696,000 after buying an additional 170,523 shares during the last quarter. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Align Technology Price Performance

Shares of NASDAQ:ALGN traded down $1.00 during trading on Friday, hitting $154.51. 911,574 shares of the company were exchanged, compared to its average volume of 947,763. Align Technology, Inc. has a 52-week low of $130.23 and a 52-week high of $200.43. The stock has a 50 day moving average of $151.62 and a 200 day moving average of $166.55. The company has a market cap of $11.07 billion, a PE ratio of 26.87, a P/E/G ratio of 1.66 and a beta of 1.67.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings results on Wednesday, July 29th. The medical equipment provider reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.02. Align Technology had a return on equity of 15.86% and a net margin of 9.99%. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the business earned $2.49 earnings per share. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. Sell-side analysts forecast that Align Technology, Inc. will post 9.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ALGN has been the subject of several recent research reports. Mizuho decreased their price objective on Align Technology from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Thursday. Robert W. Baird restated a “neutral” rating and issued a $162.00 price objective (down from $218.00) on shares of Align Technology in a research note on Thursday, October 15th. Wall Street Zen downgraded shares of Align Technology from a “buy” rating to a “hold” rating in a report on Saturday. Leerink Partners cut their target price on shares of Align Technology from $235.00 to $215.00 and set an “outperform” rating for the company in a research report on Wednesday, October 14th. Finally, Weiss Ratings upgraded shares of Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 9th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Align Technology currently has an average rating of “Moderate Buy” and an average target price of $190.93.

About Align Technology

Align Technology, Inc is a global medical device company focused on digital orthodontics and restorative dentistry. Founded in 1997, the company is best known for the Invisalign system, a series of clear, removable aligners designed to gradually move teeth and treat a range of orthodontic conditions.

Align’s products and services also include digital scanning and dental practice solutions. Its iTero intraoral scanners create digital impressions for orthodontic and restorative procedures, while its exocad business develops computer-aided design and computer-aided manufacturing software used by dental laboratories, clinicians and other dental professionals.

The company serves orthodontists, dentists, dental laboratories and patients in numerous markets worldwide.