Align Technology, Inc. $ALGN Position Increased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its stake in Align Technology, Inc. (NASDAQ:ALGN) by 38.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,551 shares of the medical equipment provider’s stock after acquiring an additional 4,359 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Align Technology were worth $2,029,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ALGN. QRG Capital Management Inc. acquired a new stake in shares of Align Technology during the second quarter valued at approximately $306,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Align Technology during the 3rd quarter worth approximately $1,327,000. Nordea Investment Management AB raised its stake in Align Technology by 20.7% during the 3rd quarter. Nordea Investment Management AB now owns 770,360 shares of the medical equipment provider’s stock valued at $95,178,000 after purchasing an additional 132,019 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Align Technology by 4.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,372 shares of the medical equipment provider’s stock valued at $449,000 after purchasing an additional 102 shares in the last quarter. Finally, Navera Investment Management Ltd. boosted its position in shares of Align Technology by 3.0% in the second quarter. Navera Investment Management Ltd. now owns 787,559 shares of the medical equipment provider’s stock worth $149,126,000 after buying an additional 23,080 shares during the period. 88.43% of the stock is owned by hedge funds and other institutional investors.

Align Technology Price Performance

NASDAQ ALGN opened at $163.03 on Friday. The company’s fifty day moving average is $161.01 and its two-hundred day moving average is $149.53. Align Technology, Inc. has a 52-week low of $122.00 and a 52-week high of $232.20. The firm has a market capitalization of $11.70 billion, a price-to-earnings ratio of 31.60, a P/E/G ratio of 1.84 and a beta of 1.83.

Align Technology (NASDAQ:ALGN) last released its earnings results on Wednesday, October 29th. The medical equipment provider reported $2.61 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.23. The business had revenue of $995.69 million during the quarter, compared to analysts’ expectations of $980.75 million. Align Technology had a net margin of 9.50% and a return on equity of 13.96%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $2.35 earnings per share. As a group, sell-side analysts expect that Align Technology, Inc. will post 7.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALGN has been the topic of several research reports. Jefferies Financial Group upped their price objective on shares of Align Technology from $140.00 to $155.00 in a research note on Thursday, October 30th. Evercore ISI cut their price objective on Align Technology from $220.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, November 25th. Wall Street Zen raised Align Technology from a “hold” rating to a “buy” rating in a research report on Saturday, January 3rd. UBS Group dropped their target price on Align Technology from $160.00 to $155.00 and set a “neutral” rating on the stock in a research report on Thursday, October 16th. Finally, Morgan Stanley raised their price target on Align Technology from $142.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 30th. Six research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $176.82.

About Align Technology

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.