Envestnet Asset Management Inc. Buys 30,686 Shares of Align Technology, Inc. $ALGN

Envestnet Asset Management Inc. raised its stake in Align Technology, Inc. (NASDAQ:ALGN) by 37.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 113,398 shares of the medical equipment provider’s stock after purchasing an additional 30,686 shares during the period. Envestnet Asset Management Inc. owned 0.16% of Align Technology worth $14,200,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Align Technology by 4.8% during 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 purchasing an additional 469 shares during the period. Focus Partners Wealth raised its holdings in Align Technology by 5.2% during the first quarter. Focus Partners Wealth now owns 3,062 shares of the medical equipment provider’s stock worth $486,000 after buying an additional 151 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Align Technology in the second quarter valued at $204,000. Sequoia Financial Advisors LLC grew its holdings in shares of Align Technology by 153.2% during the second quarter. Sequoia Financial Advisors LLC now owns 3,433 shares of the medical equipment provider’s stock valued at $650,000 after buying an additional 2,077 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its holdings in shares of Align Technology by 4.5% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,372 shares of the medical equipment provider’s stock valued at $449,000 after buying an additional 102 shares during the last quarter. 88.43% of the stock is owned by institutional investors and hedge funds.

Align Technology Stock Up 1.6%

Align Technology stock opened at $186.77 on Tuesday. The firm has a 50 day moving average price of $167.65 and a 200-day moving average price of $147.99. Align Technology, Inc. has a twelve month low of $122.00 and a twelve month high of $208.65. The company has a market capitalization of $13.40 billion, a P/E ratio of 33.00, a P/E/G ratio of 2.05 and a beta of 1.84.

Align Technology (NASDAQ:ALGN) last announced its quarterly earnings data on Wednesday, February 4th. The medical equipment provider reported $3.29 earnings per share for the quarter, beating the consensus estimate of $2.99 by $0.30. Align Technology had a return on equity of 15.16% and a net margin of 10.17%.The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company earned $2.44 earnings per share. Align Technology’s revenue was up 5.3% compared to the same quarter last year. Equities analysts expect that Align Technology, Inc. will post 7.98 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Robert W. Baird set a $218.00 price target on shares of Align Technology in a research report on Thursday, February 5th. Leerink Partners raised their target price on Align Technology from $210.00 to $225.00 and gave the company an “outperform” rating in a report on Thursday, February 5th. Stifel Nicolaus upped their price target on Align Technology from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Jefferies Financial Group increased their price target on Align Technology from $155.00 to $185.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Finally, Evercore ISI lifted their price objective on shares of Align Technology from $180.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, February 5th. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $195.92.

Align Technology Company 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.