Thompson Siegel & Walmsley LLC Makes New Investment in Align Technology, Inc. $ALGN

Thompson Siegel & Walmsley LLC acquired a new stake in Align Technology, Inc. (NASDAQ:ALGN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 155,640 shares of the medical equipment provider’s stock, valued at approximately $24,303,000.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Align Technology by 0.7% during the third 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 in the last quarter. Capital International Investors raised its position in Align Technology by 88.6% in the 3rd quarter. Capital International Investors now owns 3,050,373 shares of the medical equipment provider’s stock worth $381,968,000 after purchasing an additional 1,433,393 shares during the last quarter. Invesco Ltd. lifted its holdings in 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 buying an additional 407,559 shares in the last quarter. Holocene Advisors LP bought a new position in Align Technology in the 3rd quarter valued at $179,035,000. Finally, Bank of America Corp DE boosted its position in Align Technology by 72.0% in the 3rd quarter. Bank of America Corp DE now owns 1,353,125 shares of the medical equipment provider’s stock valued at $169,438,000 after buying an additional 566,488 shares during the last quarter. 88.43% of the stock is owned by institutional investors.

Align Technology Stock Performance

NASDAQ:ALGN opened at $174.95 on Monday. Align Technology, Inc. has a 1-year low of $122.00 and a 1-year high of $208.30. The business’s 50-day moving average price is $173.74 and its two-hundred day moving average price is $168.50. The firm has a market capitalization of $12.53 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 1.79 and a beta of 1.68.

Align Technology (NASDAQ:ALGN) last posted its earnings results on Wednesday, April 29th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.32. The company 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% compared to the same quarter last year. During the same period in the previous year, the company earned $2.13 EPS. Sell-side analysts predict that Align Technology, Inc. will post 9.48 earnings per share for the current year.

Align Technology announced that its board has authorized a stock buyback program on Wednesday, April 29th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the medical equipment provider to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have recently weighed in on ALGN. UBS Group boosted their target price on Align Technology from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, February 5th. Mizuho lifted their price objective on Align Technology from $200.00 to $215.00 and gave the stock an “outperform” rating in a research report on Thursday, February 5th. Weiss Ratings raised Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 20th. Robert W. Baird set a $218.00 target price on shares of Align Technology in a research report on Thursday, February 5th. Finally, Evercore boosted their price target on shares of Align Technology from $200.00 to $220.00 in a research note on Thursday, April 30th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Align Technology currently 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.