State of Wyoming Has $276,000 Position in Align Technology, Inc. $ALGN

State of Wyoming cut its holdings in shares of Align Technology, Inc. (NASDAQ:ALGN) by 68.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,609 shares of the medical equipment provider’s stock after selling 3,537 shares during the quarter. State of Wyoming’s holdings in Align Technology were worth $276,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Bessemer Group Inc. increased its position in shares of Align Technology by 37.2% in the first quarter. Bessemer Group Inc. now owns 247 shares of the medical equipment provider’s stock valued at $43,000 after acquiring an additional 67 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. boosted its position in Align Technology by 3.7% during the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 1,896 shares of the medical equipment provider’s stock valued at $296,000 after purchasing an additional 68 shares during the last quarter. Blue Trust Inc. boosted its position in Align Technology by 77.5% during the first quarter. Blue Trust Inc. now owns 158 shares of the medical equipment provider’s stock valued at $27,000 after purchasing an additional 69 shares during the last quarter. Comerica Bank grew its stake in Align Technology by 0.6% in the fourth quarter. Comerica Bank now owns 13,656 shares of the medical equipment provider’s stock valued at $2,132,000 after purchasing an additional 76 shares in the last quarter. Finally, Independence Bank of Kentucky grew its stake in Align Technology by 77.7% in the fourth quarter. Independence Bank of Kentucky now owns 183 shares of the medical equipment provider’s stock valued at $29,000 after purchasing an additional 80 shares in the last quarter. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALGN has been the topic of several recent analyst reports. BMO Capital Markets began coverage on Align Technology in a research report on Wednesday, July 8th. They set an “outperform” rating and a $209.00 price target on the stock. Zacks Research downgraded Align Technology from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 16th. Wall Street Zen raised shares of Align Technology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 4th. Weiss Ratings upgraded shares of Align Technology from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 17th. Finally, UBS Group reaffirmed a “neutral” rating and set a $189.00 price target on shares of Align Technology in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $206.36.

Align Technology Stock Up 4.5%

Shares of NASDAQ ALGN opened at $175.60 on Wednesday. The business’s 50 day moving average price is $173.90 and its two-hundred day moving average price is $175.18. The company has a market cap of $12.58 billion, a PE ratio of 29.46, a price-to-earnings-growth ratio of 1.72 and a beta of 1.67. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $208.30.

Align Technology (NASDAQ:ALGN) last released its quarterly earnings data on Wednesday, April 29th. The medical equipment provider reported $2.58 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the firm posted $2.13 earnings per share. The business’s revenue was up 6.2% on a year-over-year basis. As a group, research analysts anticipate that Align Technology, Inc. will post 9.48 EPS for the current fiscal year.

Align Technology announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 29th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the medical equipment provider to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are generally a sign 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.