MONECO Advisors LLC Increases Stock Holdings in Align Technology, Inc. (NASDAQ:ALGN)

MONECO Advisors LLC lifted its stake in Align Technology, Inc. (NASDAQ:ALGN) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,220 shares of the medical equipment provider’s stock after purchasing an additional 89 shares during the quarter. MONECO Advisors LLC’s holdings in Align Technology were worth $608,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALGN. Orion Capital Management LLC purchased a new position in shares of Align Technology in the 3rd quarter worth approximately $61,000. Operose Advisors LLC purchased a new position in Align Technology during the 3rd quarter valued at $63,000. Covestor Ltd boosted its holdings in Align Technology by 379.5% during the 3rd quarter. Covestor Ltd now owns 211 shares of the medical equipment provider’s stock valued at $64,000 after acquiring an additional 167 shares during the period. Valley National Advisers Inc. boosted its holdings in Align Technology by 29.7% during the 3rd quarter. Valley National Advisers Inc. now owns 214 shares of the medical equipment provider’s stock valued at $65,000 after acquiring an additional 49 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in Align Technology by 97.2% during the 4th quarter. Venturi Wealth Management LLC now owns 280 shares of the medical equipment provider’s stock valued at $77,000 after acquiring an additional 138 shares during the period. Hedge funds and other institutional investors own 88.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ALGN. OTR Global restated a “mixed” rating on shares of Align Technology in a report on Tuesday, June 4th. Morgan Stanley lifted their target price on Align Technology from $344.00 to $360.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Evercore ISI decreased their target price on Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a research report on Monday, June 10th. Leerink Partnrs reaffirmed a “market perform” rating on shares of Align Technology in a research report on Monday, February 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $375.00 target price (up from $355.00) on shares of Align Technology in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $351.00.

Align Technology Price Performance

Shares of ALGN stock opened at $245.52 on Tuesday. Align Technology, Inc. has a 1-year low of $176.34 and a 1-year high of $413.20. The stock’s fifty day moving average price is $279.46 and its 200 day moving average price is $282.72. The company has a market cap of $18.48 billion, a price-to-earnings ratio of 40.45, a price-to-earnings-growth ratio of 4.74 and a beta of 1.62.

Align Technology (NASDAQ:ALGN) last posted its quarterly earnings results on Wednesday, April 24th. The medical equipment provider reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.08. The business had revenue of $997.43 million for the quarter, compared to the consensus estimate of $971.97 million. Align Technology had a return on equity of 14.15% and a net margin of 11.80%. As a group, equities research analysts anticipate that Align Technology, Inc. will post 7.86 earnings per share for the current year.

Align Technology Profile

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.