Militia Capital Management LLC Invests $3.55 Million in Align Technology, Inc. $ALGN

Militia Capital Management LLC bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,700 shares of the medical equipment provider’s stock, valued at approximately $3,549,000. Align Technology accounts for about 0.8% of Militia Capital Management LLC’s holdings, making the stock its 29th largest holding.

Several other hedge funds have also recently added to or reduced their stakes in ALGN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Align Technology by 4.8% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,222 shares of the medical equipment provider’s stock worth $1,624,000 after acquiring an additional 469 shares during the last quarter. Focus Partners Wealth increased its position in shares of Align Technology by 5.2% in the 1st quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock valued at $486,000 after purchasing an additional 151 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Align Technology in the 2nd quarter valued at approximately $204,000. EverSource Wealth Advisors LLC raised its holdings in shares of Align Technology by 55.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 531 shares of the medical equipment provider’s stock valued at $101,000 after purchasing an additional 190 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Align Technology by 201.7% in the 2nd quarter. First Trust Advisors LP now owns 88,270 shares of the medical equipment provider’s stock valued at $16,712,000 after purchasing an additional 59,010 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Trading Down 2.8%

Shares of ALGN opened at $172.46 on Thursday. The company’s 50 day simple moving average is $172.96 and its 200-day simple moving average is $174.98. The firm has a market cap of $12.35 billion, a PE ratio of 28.94, a price-to-earnings-growth ratio of 1.82 and a beta of 1.67. Align Technology, Inc. has a 12-month low of $122.00 and a 12-month high of $208.30.

Align Technology (NASDAQ:ALGN) last posted 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. Align Technology had a return on equity of 15.82% and a net margin of 10.50%.The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the business earned $2.13 EPS. The firm’s revenue was up 6.2% compared to the same quarter last year. As a group, equities research analysts forecast that Align Technology, Inc. will post 9.48 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Citigroup began coverage on Align Technology in a report on Wednesday, April 15th. They set a “buy” rating and a $240.00 price target for the company. BMO Capital Markets started coverage on Align Technology in a research report on Wednesday, July 8th. They set an “outperform” rating and a $209.00 price objective for the company. Piper Sandler increased their price objective on Align Technology from $220.00 to $235.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Zacks Research lowered Align Technology from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 16th. Finally, Evercore boosted their target price on Align Technology from $200.00 to $220.00 in a research note on Thursday, April 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $206.07.

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.