Wahed Invest LLC Has $357,000 Stake in Align Technology, Inc. (NASDAQ:ALGN)

Wahed Invest LLC raised its position in Align Technology, Inc. (NASDAQ:ALGN) by 9.8% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,302 shares of the medical equipment provider’s stock after purchasing an additional 116 shares during the period. Wahed Invest LLC’s holdings in Align Technology were worth $357,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALGN. HighTower Advisors LLC lifted its position in shares of Align Technology by 35.2% in the 3rd quarter. HighTower Advisors LLC now owns 19,198 shares of the medical equipment provider’s stock worth $5,886,000 after purchasing an additional 5,001 shares during the period. DekaBank Deutsche Girozentrale increased its stake in shares of Align Technology by 0.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 14,597 shares of the medical equipment provider’s stock valued at $4,474,000 after acquiring an additional 131 shares in the last quarter. Aviva PLC increased its stake in shares of Align Technology by 242.4% in the 3rd quarter. Aviva PLC now owns 25,341 shares of the medical equipment provider’s stock valued at $7,737,000 after acquiring an additional 17,940 shares in the last quarter. Prudential PLC increased its stake in shares of Align Technology by 80.7% in the 3rd quarter. Prudential PLC now owns 6,107 shares of the medical equipment provider’s stock valued at $1,865,000 after acquiring an additional 2,728 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its stake in shares of Align Technology by 15.2% in the 3rd quarter. Rafferty Asset Management LLC now owns 34,271 shares of the medical equipment provider’s stock valued at $10,464,000 after acquiring an additional 4,517 shares in the last quarter. Institutional investors and hedge funds own 88.43% of the company’s stock.

Align Technology Price Performance

NASDAQ ALGN 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 firm has a market cap of $18.48 billion, a price-to-earnings ratio of 40.45, a PEG ratio of 4.74 and a beta of 1.62. The company has a fifty day moving average price of $279.46 and a 200-day moving average price of $282.72.

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

Analyst Upgrades and Downgrades

ALGN has been the subject of several research analyst reports. Stifel Nicolaus lifted their price objective on shares of Align Technology from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. UBS Group lifted their price objective on shares of Align Technology from $280.00 to $320.00 and gave the company a “neutral” rating in a research note on Monday, April 15th. SVB Leerink assumed coverage on shares of Align Technology in a research note on Monday, February 26th. They issued a “market perform” rating and a $310.00 price objective for the company. Evercore ISI decreased their price target on shares of Align Technology from $370.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, June 10th. Finally, OTR Global restated a “mixed” rating on shares of Align Technology in a research note on Tuesday, June 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $351.00.

Align Technology Company 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.