TD Asset Management Inc Has $22.78 Million Position in Align Technology, Inc. $ALGN

TD Asset Management Inc cut its holdings in Align Technology, Inc. (NASDAQ:ALGN) by 23.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 145,900 shares of the medical equipment provider’s stock after selling 44,220 shares during the quarter. TD Asset Management Inc owned about 0.20% of Align Technology worth $22,782,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ALGN. Sivia Capital Partners LLC bought a new position in shares of Align Technology in the 4th quarter worth $280,000. CIBC Asset Management Inc lifted its stake in Align Technology by 52.2% in the fourth quarter. CIBC Asset Management Inc now owns 15,060 shares of the medical equipment provider’s stock valued at $2,352,000 after buying an additional 5,165 shares during the period. AXQ Capital LP lifted its stake in Align Technology by 71.9% in the fourth quarter. AXQ Capital LP now owns 6,713 shares of the medical equipment provider’s stock valued at $1,048,000 after buying an additional 2,807 shares during the period. New Mexico Educational Retirement Board boosted its holdings in Align Technology by 3.3% during the fourth quarter. New Mexico Educational Retirement Board now owns 3,150 shares of the medical equipment provider’s stock worth $492,000 after buying an additional 100 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC bought a new position in Align Technology during the fourth quarter worth about $24,303,000. Institutional investors and hedge funds own 88.43% of the company’s stock.

Analysts Set New Price Targets

ALGN has been the subject of a number of recent analyst reports. 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 note on Tuesday, April 21st. Zacks Research raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a research note on Monday, June 1st. Morgan Stanley boosted their price objective on shares of Align Technology from $169.00 to $188.00 and gave the company an “equal weight” rating in a report on Friday, April 24th. Weiss Ratings downgraded shares of Align Technology from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. Finally, Barclays upgraded shares of Align Technology from an “equal weight” rating to an “overweight” rating and set a $200.00 target price on the stock in a report on Tuesday, March 17th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, Align Technology presently has an average rating of “Moderate Buy” and a consensus target price of $205.85.

Align Technology Price Performance

NASDAQ ALGN opened at $167.74 on Monday. Align Technology, Inc. has a one year low of $122.00 and a one year high of $208.30. The firm has a market cap of $12.01 billion, a P/E ratio of 28.14, a P/E/G ratio of 1.72 and a beta of 1.68. The stock’s 50-day moving average is $172.63 and its 200-day moving average is $169.48.

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 analysts’ consensus estimates of $2.26 by $0.32. Align Technology had a return on equity of 15.82% and a net margin of 10.50%.The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the business earned $2.13 EPS. Align Technology’s revenue for the quarter was up 6.2% compared to the same quarter last year. Equities analysts anticipate that Align Technology, Inc. will post 9.48 EPS for the current year.

Align Technology declared that its board has initiated a share buyback program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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.