Prospera Private Wealth LLC Invests $114,000 in Align Technology, Inc. (NASDAQ:ALGN)
by Tristan Rich · The Markets DailyProspera Private Wealth LLC bought a new position in shares of Align Technology, Inc. (NASDAQ:ALGN – Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 450 shares of the medical equipment provider’s stock, valued at approximately $114,000.
Several other hedge funds and other institutional investors have also made changes to their positions in ALGN. Mather Group LLC. boosted its stake in Align Technology by 52.5% in the second quarter. Mather Group LLC. now owns 122 shares of the medical equipment provider’s stock valued at $29,000 after acquiring an additional 42 shares in the last quarter. Quarry LP boosted its position in shares of Align Technology by 53.0% in the 2nd quarter. Quarry LP now owns 127 shares of the medical equipment provider’s stock valued at $31,000 after purchasing an additional 44 shares during the period. Crewe Advisors LLC grew its stake in Align Technology by 36.8% during the 2nd quarter. Crewe Advisors LLC now owns 171 shares of the medical equipment provider’s stock worth $41,000 after buying an additional 46 shares during the last quarter. Empirical Finance LLC increased its position in Align Technology by 2.1% during the third quarter. Empirical Finance LLC now owns 2,486 shares of the medical equipment provider’s stock worth $632,000 after buying an additional 50 shares during the period. Finally, Daiwa Securities Group Inc. lifted its stake in Align Technology by 0.6% in the second quarter. Daiwa Securities Group Inc. now owns 8,876 shares of the medical equipment provider’s stock valued at $2,143,000 after buying an additional 54 shares during the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.
Wall Street Analysts Forecast Growth
ALGN has been the topic of several research reports. Robert W. Baird lowered their price objective on shares of Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Morgan Stanley lowered their price target on Align Technology from $310.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Align Technology in a research note on Monday, November 4th. Piper Sandler lowered their target price on Align Technology from $285.00 to $275.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, StockNews.com upgraded Align Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $276.38.
Get Our Latest Stock Report on ALGN
Align Technology Trading Up 2.0 %
NASDAQ ALGN opened at $228.39 on Friday. The stock has a market cap of $17.05 billion, a P/E ratio of 38.97, a PEG ratio of 5.77 and a beta of 1.65. The company’s fifty day simple moving average is $228.89 and its 200-day simple moving average is $238.58. Align Technology, Inc. has a 52 week low of $196.09 and a 52 week high of $335.40.
Align Technology (NASDAQ:ALGN – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.04. Align Technology had a return on equity of 13.99% and a net margin of 11.15%. The company had revenue of $977.87 million during the quarter, compared to the consensus estimate of $990.05 million. During the same period last year, the firm earned $1.62 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. On average, research analysts expect that Align Technology, Inc. will post 7.45 EPS for the current fiscal year.
About Align Technology
Align Technology, Inc designs, manufactures, and markets Invisalign clear aligners, and iTero intraoral scanners and services for orthodontists and general practitioner dentists in the United States, Switzerland, and internationally. The company's Clear Aligner segment offers comprehensive products, including Invisalign comprehensive package that addresses the orthodontic needs of younger patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of six and ten years, which is a mixture of primary/baby and permanent teeth.
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