Heritage Investors Management Corp Sells 6,197 Shares of Align Technology, Inc. $ALGN

Heritage Investors Management Corp decreased its position in Align Technology, Inc. (NASDAQ:ALGN) by 62.1% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,782 shares of the medical equipment provider’s stock after selling 6,197 shares during the period. Heritage Investors Management Corp’s holdings in Align Technology were worth $591,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Comerica Bank grew its holdings in shares of Align Technology by 0.6% in the fourth 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. Arizona State Retirement System grew its holdings in shares of Align Technology by 0.4% in the third quarter. Arizona State Retirement System now owns 20,387 shares of the medical equipment provider’s stock worth $2,553,000 after purchasing an additional 79 shares during the last quarter. Sentry Investment Management LLC lifted its stake in Align Technology by 73.1% in the third quarter. Sentry Investment Management LLC now owns 187 shares of the medical equipment provider’s stock worth $25,000 after acquiring an additional 79 shares during the period. Independence Bank of Kentucky lifted its stake in Align Technology by 77.7% in the fourth quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock worth $29,000 after acquiring an additional 80 shares during the period. Finally, Allworth Financial LP lifted its stake in Align Technology by 3.3% in the third quarter. Allworth Financial LP now owns 2,874 shares of the medical equipment provider’s stock worth $360,000 after acquiring an additional 92 shares during the period. Institutional investors own 88.43% of the company’s stock.

Align Technology Trading Up 0.3%

Shares of Align Technology stock opened at $163.61 on Friday. The firm has a market capitalization of $11.72 billion, a P/E ratio of 27.45, a P/E/G ratio of 1.67 and a beta of 1.70. The business has a fifty day simple moving average of $173.96 and a two-hundred day simple moving average of $167.18. Align Technology, Inc. has a 12 month low of $122.00 and a 12 month high of $208.30.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, April 29th. The medical equipment provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.26 by $0.32. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. Align Technology had a return on equity of 15.82% and a net margin of 10.50%.The company’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same quarter last year, the firm posted $2.13 earnings per share. Analysts predict 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 stock repurchase plan on Wednesday, April 29th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the medical equipment provider to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

ALGN has been the subject of a number of research analyst reports. Wall Street Zen raised Align Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 7th. Wells Fargo & Company raised their price target on Align Technology from $181.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Evercore raised their price target on Align Technology from $200.00 to $220.00 in a research note on Thursday, April 30th. Weiss Ratings raised Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday. Finally, UBS Group raised their price target on Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Align Technology presently has an average rating of “Moderate Buy” and an average target price 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.