Thrivent Financial for Lutherans Has $2.02 Million Position in Align Technology, Inc. $ALGN

Thrivent Financial for Lutherans boosted its position in Align Technology, Inc. (NASDAQ:ALGN) by 306.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,909 shares of the medical equipment provider’s stock after purchasing an additional 9,730 shares during the period. Thrivent Financial for Lutherans’ holdings in Align Technology were worth $2,016,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Comerica Bank grew its position 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 valued at $2,132,000 after buying an additional 76 shares during the last quarter. Arizona State Retirement System grew its position in shares of Align Technology by 0.4% in the 3rd quarter. Arizona State Retirement System now owns 20,387 shares of the medical equipment provider’s stock valued at $2,553,000 after buying an additional 79 shares during the last quarter. Sentry Investment Management LLC grew its position 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 valued at $25,000 after buying an additional 79 shares during the last quarter. Independence Bank of Kentucky grew its position 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 valued at $29,000 after buying an additional 80 shares during the last quarter. Finally, Allworth Financial LP grew its position 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 valued at $360,000 after buying an additional 92 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 $163.55 on Wednesday. Align Technology, Inc. has a one year low of $122.00 and a one year high of $208.30. The stock’s 50-day moving average is $173.88 and its 200 day moving average is $167.76. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 1.68 and a beta of 1.70.

Align Technology (NASDAQ:ALGN) last announced its earnings results 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. Align Technology had a return on equity of 15.82% and a net margin of 10.50%.The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the company earned $2.13 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, sell-side analysts expect that Align Technology, Inc. will post 9.48 EPS for the current fiscal year.

Align Technology announced that its Board of Directors has approved 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 reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

ALGN has been the topic of a number of analyst reports. Wall Street Zen upgraded Align Technology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, March 7th. Evercore upped their price target on Align Technology from $200.00 to $220.00 in a research report on Thursday, April 30th. Leerink Partners upped their price target on Align Technology from $225.00 to $230.00 in a research report on Thursday, April 30th. Piper Sandler upped their price target on Align Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Finally, Jefferies Financial Group upped their price target on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Align Technology has an average rating of “Moderate Buy” and a consensus target price 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.