Deutsche Bank AG Takes Position in Align Technology, Inc. $ALGN

Deutsche Bank AG bought a new stake in shares of Align Technology, Inc. (NASDAQ:ALGN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 591,596 shares of the medical equipment provider’s stock, valued at approximately $99,779,000.

Several other hedge funds also recently bought and sold shares of ALGN. Sunbelt Securities Inc. increased its stake in Align Technology by 222.4% in the 4th quarter. Sunbelt Securities Inc. now owns 158 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 109 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Align Technology by 77.5% in the first quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock worth $27,000 after acquiring an additional 69 shares during the period. Tobam purchased a new stake in shares of Align Technology during the fourth quarter worth about $30,000. Hollencrest Capital Management bought a new stake in Align Technology during the 1st quarter valued at approximately $34,000. Finally, Caitong International Asset Management Co. Ltd raised its stake in Align Technology by 1,773.3% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 281 shares of the medical equipment provider’s stock valued at $35,000 after purchasing an additional 266 shares during the period. Institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. UBS Group restated a “neutral” rating and issued a $189.00 price target on shares of Align Technology in a research note on Thursday, July 23rd. Wall Street Zen cut shares of Align Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 1st. Zacks Research cut shares of Align Technology from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Leerink Partners boosted their price target on shares of Align Technology from $225.00 to $230.00 in a research note on Thursday, April 30th. Finally, Morgan Stanley increased 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. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Align Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.36.

Align Technology Stock Performance

Shares of ALGN opened at $158.94 on Friday. The stock has a market capitalization of $11.38 billion, a PE ratio of 27.64, a P/E/G ratio of 1.73 and a beta of 1.65. The company’s fifty day moving average is $175.27 and its 200 day moving average is $175.59. Align Technology, Inc. has a fifty-two week low of $122.00 and a fifty-two week high of $200.43.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, July 29th. The medical equipment provider reported $2.64 EPS for the quarter, beating the consensus estimate of $2.62 by $0.02. Align Technology had a net margin of 9.99% and a return on equity of 15.86%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the business earned $2.49 earnings per share. Align Technology’s quarterly revenue was up 4.3% compared to the same quarter last year. As a group, research analysts forecast that Align Technology, Inc. will post 9.38 earnings per share for the current year.

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