Align Technology, Inc. (NASDAQ:ALGN) Shares Acquired by Arkadios Wealth Advisors

Arkadios Wealth Advisors lifted its holdings in shares of Align Technology, Inc. (NASDAQ:ALGNFree Report) by 13.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,397 shares of the medical equipment provider’s stock after purchasing an additional 164 shares during the quarter. Arkadios Wealth Advisors’ holdings in Align Technology were worth $291,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ALGN. Wellington Management Group LLP raised its stake in Align Technology by 49.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,634,600 shares of the medical equipment provider’s stock valued at $670,031,000 after acquiring an additional 866,663 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Align Technology by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 1,750,805 shares of the medical equipment provider’s stock worth $443,810,000 after purchasing an additional 21,605 shares in the last quarter. FMR LLC boosted its stake in shares of Align Technology by 43.0% during the 3rd quarter. FMR LLC now owns 1,221,831 shares of the medical equipment provider’s stock worth $310,736,000 after acquiring an additional 367,508 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in Align Technology by 6.4% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 753,026 shares of the medical equipment provider’s stock worth $191,510,000 after buying an additional 45,484 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in Align Technology by 96.3% in the 3rd quarter. Point72 Asset Management L.P. now owns 674,319 shares of the medical equipment provider’s stock worth $171,493,000 after purchasing an additional 330,807 shares during the period. 88.43% of the stock is currently owned by institutional investors and hedge funds.

Align Technology Stock Performance

Shares of ALGN stock opened at $234.89 on Friday. Align Technology, Inc. has a 52 week low of $196.09 and a 52 week high of $335.40. The stock has a market capitalization of $17.53 billion, a PE ratio of 40.08, a PEG ratio of 5.00 and a beta of 1.67. The stock’s fifty day moving average is $222.61 and its 200-day moving average is $227.87.

Align Technology (NASDAQ:ALGNGet Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The medical equipment provider reported $2.35 earnings per share (EPS) 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 business had revenue of $977.87 million for the quarter, compared to analysts’ expectations of $990.05 million. During the same quarter last year, the business earned $1.62 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, analysts forecast that Align Technology, Inc. will post 7.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on ALGN shares. Jefferies Financial Group decreased their price target on shares of Align Technology from $285.00 to $260.00 and set a “buy” rating for the company in a report on Thursday. Evercore ISI cut their price objective on Align Technology from $270.00 to $250.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Mizuho initiated coverage on Align Technology in a research report on Wednesday, December 4th. They issued an “outperform” rating and a $295.00 price target on the stock. Robert W. Baird decreased their target price on Align Technology from $325.00 to $276.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Leerink Partnrs raised shares of Align Technology from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $267.45.

Read Our Latest Analysis on ALGN

Align Technology Profile

(Free Report)

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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Institutional Ownership by Quarter for Align Technology (NASDAQ:ALGN)

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